Samsonite Group S.A. — Earnings Release 2001

Apr 26, 2002

Listed Company Information

OCEAN SHORES<00764> - Results Announcement (Summary) Ocean Shores Group Limited announced on 26/4/2002: (stock code: 764) Year end date: 31/12/2001 Currency: HKD Auditors' Report: Neither Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 28,007 144,565 Profit/(Loss) from Operations : (100,541) 30,728 Finance cost : (190) (363) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (98,497) 24,029 % Change over Last Period : N/A EPS/(LPS)-Basic : (26.56 cents) 8.26 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (98,497) 24,029 Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: 1. (LOSS)/EARNINGS PER SHARE The calculation of basic earnings per share is based on the group's loss attributable to shareholders of HK$98,487,000 (2000: profit of HK$24,029,000) and the weighted average of 370,828,219 (2000: 290,778,688) ordinary shares of the Company. The computation of diluted loss per share does not assume the exercise of the Company's outstanding share options for the year ended 31 December 2001 because the effect of exercising an option to subscribe for an additional share of the Company would result in a decrease of net loss per share. * The weighted average number of ordinary shares for the year ended 31 December 2000 for the purpose of basic earnings per share has been adjusted for the bonus issue of shares in November 2001. 2. TURNOVER ANALYSIS 2001 2000 HK$'000 HK$'000 Distribution of video programmes 18,469 98,145 Sub-licensing of video programme rights 9,104 45,489 Film exhibition income 128 429 Video conversion fee income 306 502 --------------------------------- 28,007 144,565 ================================= 3. ANALYSIS OF (LOSS) PROFIT FROM OPERATIONS 2001 2000 HK$'000 HK$'000 (Loss) profit from operations has been arrived at after charging (crediting): Amortisation of film rights (included in cost of sales) 5,516 25,402 Amortisation of other asset 793 - Auditors' remuneration 400 820 Cost of inventories (included in cost of sales) 15,029 73,756 Depreciation: - owned assets 5,264 3,239 - leased assets 20 906 5,284 4,145 Operating lease rental in respect of rented premises 815 746 Loss on disposal of property, plant and equipment 1,900 - Allowance for bad and doubtful debts 4,847 - Allowance for inventory obsolescence (included in cost of sales) 1,034 - Staff costs including directors' emoluments Salaries, allowances and benefits in kind 12,638 7,234 Contributions to retirement benefits scheme 392 19 13,030 7,253 Bad debts recovered (533) -