Kingwell Group Limited — Earnings Release 2002

Jun 27, 2003

Listed Company Information

FT HOLDINGS<00559> - Results Announcement FT Holdings International Limited announced on 27/6/2003: (stock code: 00559 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Modified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/1/2002 from 1/1/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 122,692 124,027 Profit/(Loss) from Operations : (81,250) (733) Finance cost : (2,594) (1,665) 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 : (82,335) 64 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.2383) 0.0002 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (82,335) 64 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 Annual General Meeting : 23/7/2003 to 28/7/2003 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Adoption of new and revised Statements of Standard Accounting Practice ("SSAPs") During the year, the Group has adopted, for the first time, the following new and revised SSAPs issued by the Hong Kong Society of Accountants: SSAP 1 (Revised): "Presentation of Financial Statements" SSAP 11 (Revised): "Foreign currency translation" SSAP 15 (Revised): "Cash flow statements" SSAP 34: "Employee benefits" 2. Earnings/(Loss) per share The calculation of basic earnings/(loss) per share is based on the net loss for the year attributable to shareholders of HK$82,335,000 (2001: profit of HK$64,000) and on the weighted average of 345,500,000 (2001: 313,695,890) ordinary shares in issue during the year. No diluted earnings/(loss) per share amounts has been presented for the current and prior years as the effect of the share option outstanding was anti-dilutive. 3. Comparative figures Certain comparative amounts have been reclassified to conform with the current year's presentation. 4. Summary of auditors' report The Company's auditors have modified their report on the Group's accounts for the year ended 31st December, 2002 because of the fundamental uncertainty regarding the going concern basis of the accounts as detailed in the Company's announcement dated 27th June, 2003.