Samsonite Group S.A. — Earnings Release 2002

Apr 25, 2003

Listed Company Information

RICHE M-MEDIA<00764> - Results Announcement Riche Multi-Media Holdings Limited announced on 25/04/2003: (stock code: 00764 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2002 from 01/01/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 89,443 28,007 Profit/(Loss) from Operations : (25,131) (100,541) Finance cost : (240) (190) 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 : (25,285) (98,497) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0532) (0.2656) -Diluted (in dollars) : (0.0532) (0.2656) Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (25,285) (98,497) 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 (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. TURNOVER 2002 2001 HK$'000 HK$'000 Distribution of programmes 34,320 18,469 Sub-licensing of programme rights 43,523 9,104 Sales of advertising rights 11,600 - Film exhibition income - 128 Video conversion fee income - 306 ---------------------- 89,443 28,007 ====================== 2. LOSS FROM OPERATIONS 2002 2001 HK$'000 HK$'000 Loss from operations has been arrived at after charging: Allowance for bad and doubtful debts (included in administrative expenses) 1,044 4,314 Allowance for inventory obsolescence (included in cost of sales) 1,757 1,034 Amortisation of film rights (included in cost of sales) 24,069 5,516 Amortisation of other asset (included in administrative expenses) 9,520 793 Auditors' remuneration 723 400 Cost of inventories (included in cost of sales) 3,197 15,029 Depreciation of property, plant and equipment: - owned assets 2,222 5,264 - leased assets 16 20 ---------------------- 2,238 5,284 Operating lease rental in respect of rented premises 815 815 Staff costs including directors' emoluments: - salaries, allowances and benefits in kind 6,373 12,638 - contributions to retirement benefits scheme 177 392 ------------------------ 6,550 13,030 ======================= 3. DISPOSAL OF A SUBSIDIARY 2002 2001 HK$'000 HK$'000 NET ASSETS DISPOSED OF Film rights 71,747 - Film right deposits 8,928 - Tax recoverable 1,078 - Bank balances and cash 10 - Other payables and accruals (185) - Receipt in advance (478) - ------------------------ 81,100 - Loss on disposal (1,100) - ------------------------ Total consideration 80,000 - ======================== SATISFIED BY Convertible notes issued by an associate 80,000 - ======================== NET CASH OUTFLOW ARISING ON DISPOSAL Bank balances and cash disposed of (10) - ======================== The subsidiary disposed of during the year made no significant contribution to the Group in respect of the cash flows, turnover and net loss attribution to the shareholders. Details of this disposal are set out in the circular issued by the Company dated 13th March, 2002. 4. LOSS PER SHARE The calculation of the basic and diluted loss per share is based on the following data: 2002 2001 HK$'000 HK$'000 Loss for the purposes of basic and diluted loss per share (25,285) (98,497) ======================== '000 '000 Weighted average number of ordinary shares for the purpose of basic and diluted loss per share 475,200 370,828 ======================== The computation of diluted loss per share in the current year does not assume the exercise of the Company's warrants, convertible notes and share options because the effect of exercising a warrant, a convertible notes and an option would result in a decrease of net loss per share. The computation of diluted loss per share for the year ended 31st December, 2001 does not assume the exercise of the Company's share options 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.