DIT Group Limited — Earnings Release 1999

Aug 30, 1999

Listed Company Information

SOUTH EAST GP<0726> - Results Announcement South East Group Limited announced on 30/8/1999: (stock code: 726) Year end date: 31/3/1999 Currency: HK$ Last Current Corresponding Period Period from 1/4/1998 from 1/4/1997 to 31/3/1999 to 31/3/1998 ('000) ('000) Turnover/Interest Income : 52,748 138,015 Profit-Continuing Operations - Operating Profit/(Loss) : (17,030) (104,065) - Exceptional Items : (26,227) 196,874 - Discontinued Operations : (3,364) (1,611) Total Operating Profit/(Loss) : (46,621) 91,198 Share of Profit/(Loss) of Associated Companies : - 100 Profit/(Loss) after Tax & MI : (46,621) 91,298 % Change over Last Period : N/A EPS/(LPS)-Basic : (1.41 cents) 3.22 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (46,621) 91,298 Final Dividend per Share : NIL NIL (Specify if with other options) : NIL NIL B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : NIL B/C Dates for Other Distribution : N/A Remarks: (1) Exceptional Items of Continuing Operations 1999 1998 HK$'000 HK$'000 Waiver of indebtedness owed to the Bankers - 388,678 Provision for the intended disposal of a subsidiary in Indonesia - (134,996) Provision for impairment of fixed assets (26,227) (22,451) Provision for permanent diminution in value of a long term investment - (16,333) Provision for a deposit placed with a finance company - (38,675) Provision for severance payments - (1,689) Provision written back in respect of slow moving an obsolete stocks - 22,340 --------- --------- (26,227) 196,874 ======== ======== (2) Taxation No provision for Hong Kong and overseas profits tax has been made in the financial statements for the current year as the Group has no assessable profits for the year. (3) Dividends The board of Directors does not recommend the payment of a dividend for the year ended 31st March 1999. (4) (Loss) / Earnings per share The calculation of (loss) / earnings per share is based on the consolidated loss attributable to shareholders for the year of HK$46,621,000 (1998: profit of HK$91,298,000) and on the weighted average of 3,305,718,800 (1998: 2,834,398,000) shares in issue during the year. Company has no dilutive potential ordinary shares that were outstanding during the two years ended 31st March, 1999. (5) Discountinued operations The Group previously engaged in the manufacture and trading of compact disc jewel boxes through a wholly owned subsidiary, Benelux Manufacturing (N.I.) Limited ("BMNI"), in Northern Ireland. BMNI ceased its operations in September 1996. The operating loss arising from this discontinued operations for the year represents the incidental costs incurred in relation to the disposal of the assets of BMNI. (6) Comparative figures Certain comparative figures have been re-classified to conform with the current year's presentation.