CAI Corp — Earnings Release 2001

Mar 11, 2002

Listed Company Information

HARBOUR CENTRE<00051> - Results Announcement (Summary) Harbour Centre Development Limited announced on 11/3/2002: (stock code: 51) Year end date: 31/12/2001 Currency: Hong Kong Dollar (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('Million) ('Million) Turnover : 375.5 400.6 Profit/(Loss) from Operations : 161.9 158.7 Finance cost : (24.3) (17.9) Share of Profit/(Loss) of Associates : 10.3 4.2 Share of Profit/(Loss) of Jointly Controlled Entities : NIL NIL Profit/(Loss) after Tax & MI : (113.1) 114.5 % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.36) $0.36 -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : NIL NIL Profit/(Loss) after ETD Items : (113.1) 114.5 Final Dividend per Share : 12.0 cents 12.0 cents (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : 29/5/2002 to 5/6/2002 bdi. Payable Date : 18/6/2002 B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : None B/C Dates for Other Distribution : N/A Remarks: (1) Certain comparative figures have been adjusted as a result of changes in accounting policies for planned maintenance, proposed dividends and segment reporting in order to comply with Statement of Standard Accounting Practice ("SSAP") 28 "Provisions, contingent liabilities and contingent assets", SSAP 9 "Events after the balance sheet date" and SSAP 26 "Segment reporting" issued by the Hong Kong Society of Accountants. Certain comparative figures for turnover have also been reclassified in order to present better the results and financial condition of the Group. (2) The turnover and profit from operations of HK$375.5 million and HK$161.9 million for the year ended 31st December, 2001 respectively and HK$400.6 million and HK$158.7 million for the last year respectively were all generated from continuing operations. (3) The loss for the year included a provision for the impairment of investment securities of HK$301.5 million, which includes HK$274.2 million provided against the investment securities revaluation reserve in previous years. The amount of HK$301.5 million was transferred from the investment securities revaluation reserve to the consolidated profit and loss account. This treatment has no effect on the net asset value of the Group. (4) The calculation of (loss)/earnings per share is based on the loss for the year of HK$113.1 million (2000: a restated net profit of HK$114.5 million) and on 315.0 million (2000: 315.0 million) ordinary shares in issue throughout the year. For the year under review and the preceding year, there is no difference between the basic and diluted (loss)/earnings per share.