Suncorp Technologies Limited — Earnings Release 2002

Sep 27, 2002

Listed Company Information

DVN (HOLDINGS)<00500> - Results Announcement (Summary) DVN (Holdings) Limited announced on 27/9/2002: (stock code: 500) Year end date: 31/12/2002 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2002 from 1/1/2001 to 30/6/2002 to 30/6/2001 ('000) ('000) Turnover : 37,906 38,885 Profit/(Loss) from Operations : (26,035) (12,267) Finance cost : (991) (336) Share of Profit/(Loss) of Associates : Nil Nil Share of Profit/(Loss) of Jointly Controlled Entities : (212) Nil Profit/(Loss) after Tax & MI : (26,422) (10,972) % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.08) ($0.06) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : (26,422) (10,972) Interim Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. Operating loss Operating loss is stated after crediting and charging the following: 6 months ended 30th June 2002 2001 HK$'000 HK$'000 Crediting Guaranteed profit - 10,145 Gain on disposal of fixed assets 33 - ------------------------ Charging Cost of inventories sold 19,641 14,495 Depreciation: Owned fixed assets 6,676 3,365 Leased fixed assets 61 20 Amortization of goodwill - 200 Amortization of deferred development costs and film rights 3,907 4,322 Impairment of goodwill - 7,800 ------------------------ 2. Staff costs 6 months ended 30th June 2002 2001 HK$'000 HK$'000 Salaries 13,930 10,521 Pension costs - defined contribution plans 966 815 ------------------------ 14,896 11,336 ======== ======= 3. Taxation No profits tax has been provided as the Group did not generate any assessable profits in Hong Kong or overseas during the six months ended 30th June 2002 (2001: Nil). 4. Preference dividends 6 months ended30 June 2002 2001 HK$'000 HK$'000 The Company Dividends on 5% redeemable, convertible preference shares (Note) 276 1,775 DVN (Group) Limited Dividends on 5% exchangeable preference shares 2,906 2,906 ------------------------ 3,182 4,681 ===== ====== Note Pursuant to section 54 of the Companies Act 1981 of Bermuda (the "Act"), a company incorporated in Bermuda is not permitted to pay dividends while there are reasonable grounds for believing that the Company is, or would after the payment be, unable to pay its liabilities as they become due; or the realizable value of the Company's assets would thereby be less than the aggregate of its liabilities and its issued share capital and share premium account. The preference share dividends will only be paid upon fulfilment of the aforementioned conditions of the Act. 5. Loss per share The calculation of basic loss per share is based on the Group's loss attributable to ordinary shareholders of HK$29,604,000 (2001: HK$15,653,000) and on the weighted average number of 360,539,115 (2001: 271,186,431) ordinary shares in issue during the period. No diluted loss per share is shown for the two six-month periods ended 30th June 2002 and 2001 because the share options and convertible preference shares outstanding had an anti-dilutive effect on the basic loss per share for both periods. 6. Interim dividend No interim dividend has been declared during the period ended 30th June 2002 (2001 : Nil).