DIT Group Limited — Earnings Release 2006

Jul 25, 2006

Listed Company Information

Listed Company Information
SOUTH EAST GP<00726> - Results Announcement South East Group Limited announced on 25/07/2006: (stock code: 00726 ) Year end date: 31/03/2006 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2005 from 01/04/2004 to 31/03/2006 to 31/03/2005 Note ('000 ) ('000 ) Turnover : 17,778 65,862 Profit/(Loss) from Operations : (22,579) (56,239) Finance cost : (447) (270) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (20,764) (50,475) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.063) (0.153) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (20,764) (50,475) 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. TAXATION (a) Taxation in the income statement represents: - 2006 2005 HK$'000 HK$'000 PRC income tax - Under/(over)provision for prior year 51 (39) - Provision for the year 128 - ----------------------- Total tax expenses/(income) 179 (39) ======================= No provision for Hong Kong profits tax has been made in the financial statements for the current year as the Group did not derive any assessable profits in Hong Kong for the year (2005 : Nil). PRC income tax has been provided on the estimated taxable income at the applicable rate. (b) At 31 March 2006, the Group had no outstanding income tax payable (2005 : Nil). (c) Reconciliation between total tax expenses and loss before taxation of the Group at the applicable tax rates is as follows : 2006 2005 HK$'000 HK$'000 Loss before taxation (23,026) (56,509) ======================== Tax calculated at the applicable tax rates (5,617) (10,703) Tax effect of non-deductible expenses 1,700 4,720 Tax effect of non-taxable income - (36) Tax under/(over)provided for prior years 50 (39) Losses not recognised as deferred tax assets due to concerns as to their recoverability 4,046 6,019 ------------------------ Total tax expenses/(income) 179 (39) ======================== (d) No provision for deferred taxation has been accounted for as the Group has net deferred tax assets at the balance sheet date. The Group has not recognised the tax losses as deferred tax assets due to the unpredictability of future profit streams. The Company did not have any material unprovided deferred taxation as at 31 March 2006. 2. DIVIDENDS The directors do not recommend the payment of any dividends for the year (2005: Nil) 3. LOSS PER SHARE The calculation of loss per share is based on the consolidated loss attributable to shareholders for the year of HK$20,764,000 (2005: HK$50, 475,000) and on the weighted average of 330,571,880 (2005: 330,571,880) shares in issue during the year. No diluted loss per share has been presented as the exercise of the Company's outstanding share options would result in a decrease in loss per share for the year. The Company had no potential dilutive ordinary shares that were outstanding both years.