GREAT CHINA<00141> - Results Announcement (Summary)
Great China Holdings Limited announced on 20/9/2002:
(stock code: 141)
Year end date: 31/12/2002
Currency: HK$
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors
(Unaudited)
(Unaudited) Last
Current Corresponding
Period Period
from 1/1/2002 from 1/1/2001
to 30/6/2002 to 30/6/2001
('000) ('000)
Turnover : 359,088 475,693
Profit/(Loss) from Operations : 22,484 (15,675)
Finance cost : (5,681) (12,050)
Share of Profit/(Loss) of Associates : 1,473 2,027
Share of Profit/(Loss) of
Jointly Controlled Entities : NIL NIL
Profit/(Loss) after Tax & MI : 18,163 (25,310)
% Change over Last Period : N/A
EPS/(LPS)-Basic : 6.94 cents (9.67 cents)
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : NIL NIL
Profit/(Loss) after ETD Items : 18,163 (25,310)
Interim Dividend per Share : NIL NIL
(Specify if with other options) : N/A N/A
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
Remarks:
1. Adoption of Statements of Standard Accounting Practice
These unaudited consolidated condensed accounts are prepared in
accordance with Statement of Statement of Standard Accounting Practice
("SSAP") 25, "Interim Financial Reporting", issued by the Hong Kong
Society of Accountants ("HKSA") and Appendix 16 of the Rules Governing
the Listing of Securities on the Stock Exchange of Hong Kong Limited
(the "Listing Rules").
The accounting policies and methods of computation used in the
preparation of these condensed accounts are consistent with those used
in the annual accounts for the year ended 31st December,
2001 except that the Group has adopted the following SSAPs issued by
the HKSA which are effective for accounting periods commencing on or
after 1st January, 2002:
SSAP 1 (revised) : Presentation of financial statements
SSAP 15 (revised) : Cash flow statements
SSAP 25 (revised) : Interim financial reporting
SSAP 34 : Employee benefits
2. An analysis of turnover and contributions to operating loss from
continuing operations and discontinued operations
TURNOVER CONTRIBUTION
Six months ended 30th June Six months ended 30th June
2002 2001 2002 2001
HK$'000 HK$'000 HK$'000 HK$'000
Continuing operations
General trading 347,298 461,982 (11,516) (7,290)
Property investment 11,171 13,036 50,626 10,042
Real estate agency
services 619 675 (1,041) (1,858)
-----------------------------------------------
359,088 475,693 38,069 894
===================
Unallocated corporate expenses (Note) (15,585) (16,569)
------------------------
22,484 (15,675)
========================
Note:
a. Unallocated corporate expenses
Six months ended 30th June
2002 2001
HK$'000 HK$'000
Impairment of land and buildings - (10,761)
Other operating income - 1,202
Judgement debt (8,791) -
Others (1,544) -
Unallocated administration expenses (5,250) (7,010)
-----------------------
(15,585) (16,569)
========================
3. Earnings/(loss) per share
Earnings/(loss) per share is calculated based on the profit attributable
to shareholders of the Group for the six months ended 30.6.2002 of
HK$18,163,000 (30.6.2001 : loss of HK$25,310,000) and 261,684,910 shares
(30.6.2001 : 261,684,910 shares) of the Company in issue during the
period.
No diluted earnings/(loss) per share has been presented for current and
prior periods because the exercise of the options have no dilutive effect
for those periods.
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