China Pipe Group Limited — Earnings Release 2002

Apr 16, 2003

Listed Company Information

PRIME SUCCESS<00210> - Results Announcement Prime Success International Group Limited announced on 16/04/2003: (stock code: 00210 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2002 from 01/01/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 1,180,669 1,088,527 Profit/(Loss) from Operations : 51,333 (68,883) Finance cost : (9,009) (16,528) Share of Profit/(Loss) of Associates : 243 140 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 25,584 (99,779) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.017 (0.067) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 25,584 (99,779) Final Dividend : 1.2 cents NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 27/05/2003 to 29/05/2003bdi. Payable Date : 10/6/2003 B/C Dates for Annual General Meeting : 27/05/2003 to 29/05/2003bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: NOTE 1 FINAL DIVIDEND 2002 2001 HK$'000 HK$'000 Interim dividend, paid, of HK0.8 cents (2001: Nil) per ordinary share 11,987 - Final dividend, proposed, of HK1.2 cents (2001: Nil) per ordinary share (Note) 17,981 - ------- --------- 29,968 - ======== ========= Note: At a meeting held on 16th April 2003, the board of directors declared a final dividend of HK1.2 cents per ordinary share. This proposed dividend is not reflected as a dividend payable in these accounts, but will be reflected as an appropriation of retained profits for the year ending 31st December 2003. NOTE 2 EARNINGS PER SHARE The calculation of earnings/(loss) per ordinary share is based on the Group's profit attributable to shareholders of HK$25,584,000 (2001: loss of HK$99,779,000) and the weighted average number of 1,498,392,384 (2001: 1,498,392,384) ordinary shares in issue during the year. As the respective prices of the share options were greater than the average market prices of the Company's share for the year ended 31st December 2001 and for the period from 1st January 2002 to 28th March 2002, there was no dilution effect on the basic earnings per share. All share options granted by the Company to employees lapsed on 28th March 2002.