Suncorp Technologies Limited — Earnings Release 2001

Apr 26, 2002

Listed Company Information

DVN (HOLDINGS)<00500> - Results Announcement (Summary) DVN (Holdings) Limited announced on 26/4/2002: (stock code: 500) 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 : 65,048 43,715 Profit/(Loss) from Operations : (33,202) (181,740) Finance cost : (1,311) (366) Share of Profit/(Loss) of Associates : - (15,032) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (31,772) (195,005) % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.15) ($0.77) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (31,772) (195,005) Final Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Operating loss Operating loss is stated after crediting and charging the following: Group 2001 2000 HK$'000 HK$'000 (Restated) Crediting Other operating income including: Compensation income 11,912 - Write-back of provision against doubtful debts 8,228 - Gain on disposal of a subsidiary - 3 Gain on disposal of fixed assets - 1,858 Gain on disposal of an associate - 8,799 ========= ========= Charging Cost of inventories sold 21,500 21,792 Cost of provision of international financial market information and selective consumer data 3,774 8,343 Depreciation 9,684 3,613 Auditors' remuneration 850 1,200 Staff costs (excluding directors' remuneration) 21,390 21,399 Operating lease rentals on land and buildings 7,453 5,294 Contribution to defined contribution Mandatory Provident 1,314 29 Fund Other operating expenses including: Amortisation of deferred development costs 2,967 2,595 goodwill 200 3,562 film rights 5,985 7,372 Provision against inventories 950 1,000 Provisions against trade and other receivables 736 18,021 Provision against amounts due from a former associate - 25,140 Impairment of goodwill 7,800 84,343 Loss on disposal of subsidiaries - 1,979 Loss on disposal of other investments - 4,672 Loss on disposal of fixed assets 504 - ========= ========= (2) Prior year adjustment Previously, the Group capitalised and amortised all deferred development expenditure including those which do not meet the new criteria for recognition as intangible assets under SSAP 29. In accordance with the transitional provision of SSAP 29, those deferred development costs which do not meet the recognition criteria have been adjusted so that the 2000 comparatives presented have been restated to conform to the new accounting standard. (3) Share of results of associates Investment in associate has been fully disposed of during 2000. Accordingly, the Group does not have any share of associates' results. (2000: 15,032,000) (4) Loss per share The calculation of the basic loss per share is based on the Group's loss attributable to ordinary shareholders of HK$41,373,000 (2000 (restated): HK$203,288,000) and on the weighted average number of 280,028,323 (2000: 265,226,992) ordinary shares in issue during the year. No diluted loss per share is shown for the two years ended 31st December 2001 and 2000 as the share options and convertible preference shares outstanding had an anti-dilutive effect on the basic loss per share for both years. (5) Taxation No provision for Hong Kong and overseas profits tax has been made in the accounts as the Group did not have any assessable profit for the year. (2000: Nil). The potential deferred tax asset of HK$3,606,000 relating to tax losses available for carry-forward as at 31st December 2001 has not been recognised as the crystallisation of the assets in the foreseeable future is uncertain. (6) Preference dividends 2001 2000 HK$'000 HK$'000 The Company Payable at HK7.5 cents (2000: HK7.5 cents) per share on 47,116,091 (2000: 47,336,091) redeemable preference shares 3,789 3,550 Write back of prior years' provisions upon conversion - (1,079) DVN (Group) Limited, a wholly-owned subsidiary of the Company Payable at HK38.75 cents (2000: HK38.75 cents) per share on 15,000,000 (2000: 15,000,000) exchangeable preference shares 5,812 5,812 ------- ------- 9,601 8,283 ======== ======== (7) Final Dividend No final dividend has been declared during the year ended 31 December 2001 (2000 : Nil) (8) Comparative figures Due to the adoption of new/revised Statements of Standard Accounting Practice, certain comparative figures have been reclassified to conform to current year's presentation.