WANG ON GROUP<01222> - Results Announcement (Summary)

Wang On Group Limited announced on 14/12/2001:
(stock code: 1222)
Year end date: 31/3/2002
Currency: HKD                                               (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/4/2001    from 1/4/2000
                                           to 30/9/2001     to 30/9/2000
                                           ('000)           ('000)
Turnover                                 : 145,882          87,626
Profit/(Loss) from Operations            : 12,973           2,751
Finance cost                             : (2,042)          (823)
Share of Profit/(Loss) of Associates     : 129              172
Share of Profit/(Loss) of
  Jointly Controlled Entities            : N/A              N/A
Profit/(Loss) after Tax & MI             : 7,562            2,268
% Change over Last Period                : +233.42%
EPS/(LPS)-Basic                          : 0.88 cent        0.31 cent
         -Diluted                        : 0.85 cent        N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 7,562            2,268
Interim Dividend per Share               : Nil              Nil
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : N/A
Payable Date                             : N/A
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remark:

Earnings per share

The calculation of the basic earnings per share is based on the following 
data:

                                        Unaudited       
                                    Six months ended 
                                      30 September
                                2001            2000
                                HK$'000         HK$'000
Net profit from ordinary 
  activities attributable to  
  shareholders                  7,562           2,268
                                ======================                    
            
                                    No. of shares
                                '000            '000
Weighted average number of ordinary 
  shares for the  purpose of
  basic earnings per share      857,362         741,610
Effect of dilutive potential 
  ordinary shares 
  - share options & 
    convertible bonds           28,380          -
                                ------------------------
Weighted average number of 
  ordinary shares for the 
  purpose of diluted earnings
  per share                     885,742         741,610
                                =======================