Harbour Centre Development Limited — Interim / Quarterly Report 2001

Dec 18, 2000

Listed Company Information

FE CONSORT INTL<0035> - Results Announcement Far East Consortium International Limited announced on 18/12/2000: (stock codes: Ord: 35 & War: 1084) Year end date: 31/3/2001 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2000 from 1/4/1999 to 30/9/2000 to 30/9/1999 ('000) ('000) Turnover : 393,440 377,635 Profit/(Loss) from Operations : 45,626 60,554 Finance cost : (20,854) (24,086) Share of Profit/(Loss) of Associates : 9,746 1,299 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 22,653 30,248 % Change over Last Period : -25% EPS/(LPS)-Basic : 2.4 cents 3.3 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 22,653 30,248 Interim Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Interim 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) Accounting policies The interim financial report has been prepared in accordance with the Statement of Standard Accounting Practice No. 25 " Interim financial reporting" issued by the Hong Kong Society of Accountants ("SSAP 25 "),except that comparative figures are not presented, for the statement of recognised gains and losses and the cash flow statement to be included in the interim financial report relating to accounting period ended 30 September 2000. Such departures from SSAP 25 are permitted under the Rules governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The accounting policies adopted are consistent with those followed in the Group's annual financial statements for the year ended 31 March, 2000. Under SSAP 24, investments in securitites are now classified as held-to maturity (carried at amortised cost less provision for irrecoverable amounts), trading securities (carried at fair value, with valuation movements dealt with in the income statement) and other securities (carried at fair value, with valuation movements dealt with in equity). In prior years, the Group's investments were classified either as long-term (carried at cost less provision for permanent diminution in value) or short-term (carried at the lower of cost and market value). The accounting treatment specified by SSAP 24 has been applied retrospectively. The results of the prior interim reporting period for the six months ended 30 September 1999 previously reported has not been adjusted for the above adoption and is restated resulting in an increase in profit in prior interim period of HK$1,335,000. Comparative amounts have been restated to reflect this change in accounting policy. Comparative figures have been reclassified to conform with the current year's presentation. (2) Earnings per share The calculation of earnings per share is based on the profit attributable to shareholders of HK$22,653,000 (six months ended 30 September 1999 : HK$30,248,000) and on the weighted average number of 939,147,635 (six months ended 30 September 1999: 924,699,367) shares in issue during the period. No diluted earnings per share has been presented because the exercise prices of the Company's share options and warrants were higher than the average market price for shares for the six months ended 30 September 1999 and 2000.