Central Development Holdings Limited — Earnings Release 2002

Dec 21, 2001

Listed Company Information

SEAPOWER RES I<00269> - Results Announcement (Summary) Seapower Resources International Limited announced on 20/12/2001: (stock code: 269) Please refer to the press announcement for the details of the auditors' and audit committee's review report on the interim financial statement, issued by the Company on 21/12/2001. Year end date: 31/3/2002 Currency: HK$ (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 : 94,033 113,806 Profit/(Loss) from Operations : (63,284) 8,904 Finance cost : (47,987) (60,106) Share of Profit/(Loss) of Associates : - 362 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (111,025) (51,863) % Change over Last Period : N/A EPS/(LPS)-Basic : (7.18 cents) (3.35 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (111,025) (51,863) 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: 01.04.2001 01.04.2000 to to 30.09.2001 30.09.2000 HK$ '000 HK$ '000 1) Turnover - Continuing operations 94,033 105,821 - Discontinued operations - 7,985 ---------- ---------- 94,033 113,806 ======= ========= 2) (Loss)/profit from operations - Continuing operations (63,284) 7,238 - Discontinued operations - 1,666 --------- --------- (63,284) 8,904 ======== ======= 3) Details of items before taxation of the current and/or prior period which are of such size, nature or incidence that their disclosure is relevant to explain the financial performance for the period: Continuing Operations Unrealized losses on other investments (3,859) - Loss on disposal of investment properties(28,838) - Provision for bad and doubtful debts - (33,092) Impairment losses recognized in respect of the investment properties (17,293) - Impairment losses recognized in respect of the property, plant and equipment (10,407) - Loss on disposal of subsidiaries - (3,063) Net realized gains on other investments 779 41,982 Unrealized gains on other investments - 26,953 ======= ======== 4) Loss per share The calculation of the basic loss per share is based on the loss for the period of approximately HK$111,025,000 (for the six months ended 30th September, 2000: HK$51,863,000) and on 1,547,042,829 shares in issue during the period. The computation of the diluted loss per share does not assume the conversion of the outstanding share options of the Company as they would reduce the loss reported for both periods. 5) Profit from operation The figure for the six months ended 30th September, 2000 are arrived at after the addition of loss on disposal of subsidiaries of HK$3,063,000. For more details, please refer to the press announcement today.