LEGEND GROUP<00992> - Results Announcement (Summary)
Legend Group Limited announced on 29/1/2003:
(stock code: 992)
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: N/A
Review of Third Quarter Results by: Audit Committee
(Unaudited)
(Unaudited) Last
Current Corresponding
Period Period
from 1/4/2002 from 1/4/2001
to 31/12/2002 to 31/12/2001
('000) ('000)
Turnover : 15,967,638 16,726,569
Profit/(Loss) from Operations : 865,777 820,128
Finance cost : 0 (11,734)
Share of Profit/(Loss) of Associates : 18,195 (8,467)
Share of Profit/(Loss) of
Jointly Controlled Entities : (33,777) (924)
Profit/(Loss) after Tax & MI : 842,059 765,384
% Change over Last Period : +10.0%
EPS/(LPS)-Basic : 11.22 cents 10.14 cents
-Diluted : 11.20 cents 10.08 cents
Extraordinary (ETD) Gain/(Loss) : NIL NIL
Profit/(Loss) after ETD Items : 842,059 765,384
Third Quarter Dividend per Share : NIL NIL
(Specify if with other options) : N/A N/A
B/C Dates for Third Quarter Dividend : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
Remarks:
1. Basis of preparation
(a) The Directors are responsible for the preparation of
Legend Group Limited and its subsidiaries' (the "Group") unaudited
quarterly financials. These unaudited quarterly financials have been
prepared in accordance with Statement of Standard Accounting Practice
("SSAP") No. 25 "Interim Financial Reporting" issued by the Hong Kong
Society of Accountants ("HKSA"). These condensed accounts should be read
in conjunction with the audited accounts for the year ended 31 March 2002.
(b) With effect from 1 June 2001, Digital China Holdings
Limited and its subsidiaries (collectively known as "DCHL") were spun off
from the Group (the "Spin-off"). As the Spin-off was substantial to the
operating results of the Group, the Directors have prepared unaudited
proforma consolidated results of the Group for the corresponding nine
months ended 31 December 2001 as if the Spin-off was effective throughout
the period. The unaudited proforma consolidated results will be published
in newspapers
2. Principal accounting policies
The principal accounting policies and methods of calculations used
in the preparation of these unaudited quarterly financials are consistent
with those used in the annual accounts for the year ended 31 March 2002.
The Group has presented its cash flow statement with effect from 1 April
2002 based on SSAP 15 (revised) "Cash flow statements" issued by HKSA
which is effective for accounting periods commencing on or after 1 January
2002. The comparative figures have been reclassified accordingly. In
addition, the following new/revised SSAPs issued by the HKSA became
effective for accounting periods commencing on or after 1 January 2002 are
also applicable to the Group:
SSAP 1 (revised) : Presentation of financial statements
SSAP 11 (revised) : Foreign currency translation
SSAP 25 (revised) : Interim financial reporting
SSAP 33 : Discontinuing operations
SSAP 34 (revised) : Employee benefits
The adoption of the above SSAPs has no material effect on the Group's
prior year quarterly financials.
3. Earnings per share
The calculation of basic and diluted earnings per share is based on the
following data:
9 months ended 9 months ended
31 December2002 31 December 2001
(unaudited) (unaudited)
Earnings for the purposes of
basic and diluted earnings
per share (HK$'000) 842,059 765,384
======= =======
Weighted average number of
shares for the purposes of
basic earnings per share 7,505,805,541 7,545,758,130
Effect of potential dilutive
shares 11,423,220 43,398,147
------------- -------------
Weighted average number of
shares for the purposes of
diluted earnings per share 7,517,228,761 7,589,156,277
============= =============
4. Analysis of turnover and profit from continuing operations
Primary reporting format-geographical segments
(i) For the nine months ended 31 December 2002:
People's Republic of Asia Pacific
China ("PRC") (excluding PRC)
(unaudited) (unaudited)
HK$'000 HK$'000
Profit and loss account
Turnover 15,588,208 5,055
Segment operating results 809,634 (204)
Gains on disposal of a
subsidiary and
Investment securities 6,287 -
Amortisation of Intangible
assets (9,964) -
Interest income
Finance cost
Contribution to operating profit
Share of losses of jointly
controlled entities (33,777) -
Share of profits of
associated companies 18,195 -
North
America Europe
(unaudited) (unaudited)
HK$'000 HK$'000
Profit and loss account
Turnover 13,516 360,859
Segment operating results 535 4,750
Gains on disposal of a
subsidiary and
investment securities - -
Amortisation of
Intangible assets - -
Interest income
Finance cost
Contribution to operating profit
Share of losses of jointly
controlled entities - -
Share of profits of
associated companies - -
Group
Total
(unaudited)
HK$'000
Profit and loss account
Turnover 15,967,638
Segment operating results 814,715
Gains on disposal of a subsidiary and
investment securities 6,287
Amortisation of Intangible assets (9,964)
Interest income 54,739
Finance cost -
------------
Contribution to operating profit 865,777
Share of losses of jointly controlled entities (33,777)
Share of profits of associated companies 18,195
------------
Profit before taxation 850,195
Taxation (16,699)
------------
Profit after taxation 833,496
Minority interests 8,563
------------
Profit attributable to shareholders 842,059
============
(ii) For the nine months ended 31 December 2001:
Asia Pacific
PRC (excluding PRC)
(unaudited) (unaudited)
HK$'000 HK$'000
Profit and loss account
Turnover 15,745,970 280,792
Segment operating results 620,682 30,438
Gains on disposal of subsidiaries, associated
companies and investment securities 57,986 -
Interest income
Finance costs
Contribution to operating profit
Share of losses of jointly
controlled entities (924) -
Share of losses of associated companies (8,467) -
North
America Europe
(unaudited) (unaudited)
HK$'000 HK$'000
Profit and loss account
Turnover 95,804 604,003
Segment operating results 17,466 38,656
Gains on disposal of subsidiaries,
associated companies and
investment securities - -
Interest income
Finance costs
Contribution to operating profit
Share of losses of jointly
controlled entities - -
Share of losses of
associated companies - -
Group
Total
(unaudited)
HK$'000
Profit and loss account
Turnover 16,726,569
==========
Segment operating results 707,242
Gains on disposal of subsidiaries, associated
companies and investment securities 57,986
Interest income 54,900
Finance costs (11,734)
--------
Contribution to operating profit 808,394
Share of losses of jointly controlled entities (924)
Share of losses of associated companies (8,467)
--------
Profit before taxation 799,003
Taxation (20,417)
--------
Profit after taxation 778,586
Minority interests (13,202)
--------
Profit attributable to shareholders 765,384
========
Secondary reporting format-business segments
(i) For the nine months ended 31 December 2002:
Contribution to
Turnover operating profit
(unaudited) (unaudited)
HK$'000 HK$'000
Corporate IT business 8,711,700 599,606
Consumer IT business 5,297,473 260,609
Handheld device business 1,109,721 28,844
IT service business 119,869 (40,567)
Contract Manufacturing business 728,875 15,301
Gains on disposal of subsidiaries and
investment securities 6,287
Amortisation of Intangible assets (4,303)
---------- ----------
15,967,638 865,777
========== ==========
(ii) For the nine months ended 31 December 2001:
Contribution to
Turnover operating profit
(unaudited) (unaudited)
HK$'000 HK$'000
Corporate IT business 8,019,734 480,092
Consumer IT business 5,594,095 194,660
Handheld device business 166,989 (15,325)
Contract Manufacturing business 1,321,360 105,922
Others 1,624,391 (14,941)
Gains on disposal of subsidiaries, associated
companies and investment securities 57,986
---------- ----------
16,726,569 808,394
========== ==========
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