CTF Services Limited — Earnings Release 2003

Apr 23, 2004

Listed Company Information

Listed Company Information
CENTRAL CHINA<00351> - Results Announcement Central China Enterprises Limited announced on 23/4/2004: (stock code: 00351 ) Year end date: 31/12/2003 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/1/2003 from 1/1/2002 to 31/12/2003 to 31/12/2002 Note ('000 ) ('000 ) Turnover : 91,996 1,606 Profit/(Loss) from Operations : (35,243) (67,861) Finance cost : (1,577) (1,912) Share of Profit/(Loss) of Associates : (15,051) (13,593) Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (58,859) (147,980) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0221) (0.0556) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (58,859) (147,980) Final Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Turnover from continuing operations and discontinued operation Turnover represents the amount received and receivable for goods sold to outside customers, less returns and allowance, service income and guaranteed return for the year, and is analysed as follows: 2003 2002 HK$'000 HK$'000 Continuing operations: Sale of computer hardware and maintenance support services 91,264 - Software design and development 732 1,250 Return from a power plant in the PRC (note) - - Return from an investment in a motor spare parts business in the PRC (note) - - -------------------- 91,996 1,250 Discontinued operation: Internet software services - 356 --------------------- 91,996 1,606 Note: No return has been recognised in the current and prior years as the recoverability of the guaranteed return is considered by the directors to be uncertain. 2. Profit/(loss) from continuing operations and discontinued operation 2003 2002 HK$'000 HK$'000 Continuing operations: Sale of computer hardware and maintenance support services (1,338) - Software design and development (13,621) (16,377) Return from a power plant in the PRC - (504) Return from an investment in a motor spare parts business in the PRC - - Unallocated corporate expenses (20,263) (50,916) -------------------------- (35,222) (67,797) Discontinued operation: Internet software services (21) (64) ------------------------ (35,243) (67,861) 3. Loss per share The calculation of basic loss per share for the year ended 31 December 2003 is based on net loss of the Group of approximately HK$58,859,000 (2002: HK$147,980,000) and on the weighted average of 2,663,370,218 ordinary shares (2002: 2,663,370,147 ordinary shares) in issue during the year. No diluted loss per share has been calculated as the exercise of the share options would result in a decrease in loss per share for both years.