G-Resources Group Limited — Interim / Quarterly Report 2004

Mar 23, 2004

Listed Company Information

PALADIN<00495> - Results Announcement Paladin Limited announced on 23/3/2004: (stock code: 00495 ) Year end date: 30/6/2004 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/7/2003 from 1/7/2002 to 31/12/2003 to 31/12/2002 Note ('000 ) ('000 ) Turnover : 10,808 10,338 Profit/(Loss) from Operations : (25,701) (7,205) Finance cost : (3,428) (15,821) 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 : (29,129) (23,026) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0551) (0.0436) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (29,129) (23,026) Interim Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim 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. Adoption of the revised SSAP The accounting policies adopted are consistent with those followed in the preparation of the Group's annual financial statements for the year ended 30 June 2003 except as described below. In the current interim period, the Group has adopted SSAP 12 (Revised) "Income Taxes". The principal effect of the implementation of SSAP 12 (Revised) is in relation to deferred tax. In previous years, partial provision was made for deferred tax using the income statement liability method, i.e. a liability was recognised in respect of timing differences arising, except where those timing differences were not expected to reverse in the foreseeable future. SSAP 12 (Revised) requires the adoption of a balance sheet liability method, whereby deferred tax is recognised in respect of all temporary differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, with limited exceptions. The adoption of SSAP 12 (Revised) has had no effect on the results for the current or prior interim reporting periods. 2. Loss from operations Loss from operations is stated after charging depreciation of HK$1,848,000 (2002: HK$2,300,000). 3. Basic loss per share The calculation of the basic per share is based on the net loss for the period of HK$29,129,000 (2002: HK$23,026,000) and on 528,271,615 (2002: 528,271,615) ordinary shares in issue during the period.