Dynamic Holdings Limited — Earnings Release 2003

Oct 24, 2003

Listed Company Information

DYNAMIC HOLD<00029> - Results Announcement Dynamic Holdings Limited announced on 24/10/2003: (stock code: 00029 ) Year end date: 30/6/2003 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/7/2002 from 1/7/2001 to 30/6/2003 to 30/6/2002 Note ('000 ) ('000 ) Turnover : 294,752 50,567 Profit/(Loss) from Operations : 11,512 (42,691) Finance cost : (1,270) (1,550) 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 : (2,386) (47,597) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.011) (0.217) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (2,386) (47,597) Final Dividend : 2 cents 2 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 15/12/2003 to 19/12/2003bdi. Payable Date : 16/1/2004 B/C Dates for Annual General Meeting : 15/12/2003 to 19/12/2003bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: (1) Explanation of substantial change in turnover and profit from operation For the year ended 30th June, 2003, the Group's turnover amounted to HK$294,752,000 representing a sharp increase of about 483% over that of last year. This is principally resultant from the booking of sales revenue (by about HK$235,958,000) of the first two towers of Chaoyang Garden Phase II (The Sun Crest) in Beijing, following the issue of occupation permit in November 2002. The sales proceeds of Chaoyang Garden representing about 86% of the Group's turnover was the main income contributor of the Group for the year. In the year under review, the gross profit of the Group increased to HK$76,350,000, representing a substantial rise of about 105%. The operating profit of the Group was HK$11,512,000 as against the operating loss of HK$42,691,000 for the previous year. Again, these are primarily attributable to the booking of property sales as mentioned above. However, a provision of HK$40,000,000 (2002: HK$60,000,000) was made in the year to take into account the deficit arising from revaluation of the Group's cargo center in Hong Kong. (2) Basic and diluted loss per share The calculation of loss per share is based on net loss for the year of HK$2,386,000 and on 219,103,681 ordinary shares in issue throughout the year. Diluted loss per share is not shown as there was no dilution effect on the loss per share in the year.