S E A Holdings Limited — Earnings Release 2003

Sep 4, 2003

Listed Company Information

SEA HOLDINGS<00251> - Results Announcement S E A Holdings Limited announced on 04/09/2003: (stock code: 00251 ) Year end date: 31/12/2003 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2003 from 01/01/2002 to 30/06/2003 to 30/06/2002 Note ('000 ) ('000 ) Turnover : 268,047 309,419 Profit/(Loss) from Operations : 170,013 (269,000) Finance cost : (84,075) (109,030) Share of Profit/(Loss) of Associates : 442 (5,287) Share of Profit/(Loss) of Jointly Controlled Entities : N/A (204) Profit/(Loss) after Tax & MI : 59,492 (244,462) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.116 (0.478) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 59,492 (244,462) Interim Dividend : 4.0 cents NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 30/09/2003 to 03/10/2003bdi. Payable Date : 06/10/2003 B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: Earnings (Loss) per share The calculation of the basic earnings (loss) per share is based on net profit for the period of HK$59,492,000 (2002: net loss of HK$244,462,000) and on 511,246,868 (2002: 511,246,868) shares in issue during the period. The computation of diluted earnings per share for the half year ended 30th June, 2003 does not assume the exercise of the Company's outstanding share options and warrants as the exercise prices of those options and warrants are higher than the average market price for shares for the period. No diluted loss per share has been calculated for the half year ended 30th June, 2002 as the exercise of the Company's share options and warrants would result in a decrease in the loss per share. The adjustment to the comparative basic loss per share, arising from the change in accounting policy, is as follows: HK cents Reconciliation of 2002 loss per share: Reported figure before adjustments 47.6 Adjustment arising from the adoption of SSAP (Revised) 12 0.2 ------- Restated 47.8 ======