CTF Services Limited — Earnings Release 2001

Mar 15, 2001

Listed Company Information

PACIFIC PORTS<0659> - Results Announcement Pacific Ports Company Limited announced on 15/3/2001: (stock code: 659) Please refer to the press announcement for the details of the audit committee's review report on the interim financial statement, to be issued by the Company on 16/3/2001. Year end date: 30/6/2001 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/7/2000 from 1/7/1999 to 31/12/2000 to 31/12/1999 ('000) ('000) Turnover : 63,120 44,819 (Loss) from Operations : (33,531) (20,644) Finance cost : (240) (1,418) Share of Profit of Associates : 146,654 - Share of Profit of Jointly Controlled Entities : 78,373 - Profit after Tax & MI : 164,743 (13,298) % Change over Last Period : N/A EPS/(LPS)-Basic : 4.72 cnets (1.62 cents) -Diluted : 3.14 cents N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 164,743 (13,298) 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) Change of financial year end date Pursuant to a resolution of the Company passed on 22 April 1999, the financial year end date of the Company was changed from 31 December to 30 June to achieve a coterminous year end date with New World Development Company Limited, its then ultimate holding company. The unaudited figures for last corresponding interim period from 1 July 1999 to 31 December 1999 have been presented for comparison purposes. (2) Comparative Figures Certain comparative figures have been adjusted or extended as a result of the adoption of Statment of Standard Accounting Practice 2.101, which was issued by the Hong Kong Society of Accountants and became effective for accounting period commencing on 1 January 1999. Such reclassifications were made to conform with current period's presentation and have no effect on profit attributable to shareholders for the six months ended 31 December 2000. (3) Earnings/(loss) per share The calculation of basic earnings/(loss) per share is based on the Group's profit attributable to shareholders of HK$164,743,000 (1999: loss of HK$13,298,000) less preference share dividends of HK$67,489,000 (1999: HK$ Nil) and the weighted average of 2,059,968,000 (1999: 819,462,000) ordinary shares in issue during the period. The diluted earnings per share for the six months ended 31 December 2000 is based on 5,253,622,306 ordinary shares which is the weighted average number of ordinary shares in issue during the period plus the weighted average of 3,193,654,306 ordinary shares deemed to be issued on the conversion of all preference shares. The conversion of share option is not dilutive as the exercise price of the Company's outstanding options is higher than the fair value per share for the six months ended 31 December 2000. As the conversion of share options is anti-dilutive, the diluted loss per share for the six months ended 31 December 1999 is not presented.