ASIA ALLIANCE<00616> - Results Announcement
Asia Alliance Holdings Limited announced on 25/3/2004:
(stock code: 00616 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Audited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 31/12/2003 to 31/12/2002
Note ('000 ) ('000 )
Turnover : 5,083 70,354
Profit/(Loss) from Operations : (45,123) (177,200)
Finance cost : (1,626) (37)
Share of Profit/(Loss) of
Associates : N/A (13,991)
Share of Profit/(Loss) of
Jointly Controlled Entities : (72) (65)
Profit/(Loss) after Tax & MI : (46,821) (191,424)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (1.39) (6.83)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (46,821) (191,424)
2nd Interim Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
2nd Interim 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. SEGMENT INFORMATION
The Group's primary format for reporting segment information is business
segments. An analysis of the Group's turnover and result by business
segments is as follows:
Turnover Loss from operations
-------------------------------- -------------------------------
Unallocated
Inter- Segment corporate
External segment Consolidated result expenses Total
-------- ------- ------------ ------- --------- ----------
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
For the twelve months
ended 31 December 2003
-----------------------
Wireless communication business
3,982 - 3,982 (28,092)
Communication solutions consultancy services
1,101 - 1,101 (2,555)
Internet operations
- - - (283)
Others - - - (13,963)
------ ------- ------ ---------
5,083 - 5,083 (44,893) (230) (45,123)
====== ======= ====== ========= ======= ==========
For the twelve months
ended 31 December 2002
-----------------------
Discontinuing operations:
Sanitary fixtures and fittings
38,860 26 38,886 443
Hardware, industrial and consumer products
20,258 - 20,258 (926)
Drainage, plumbing and engineering contracting services
9,152 - 9,152 (1,907)
Continuing operations:
Wireless communication business
953 - 953 (29,704)
Communication solutions consultancy services
1,131 480 1,611 (4,122)
Internet operations
- - - (598)
Others - - - (32,077)
------ ------ ------- ---------
70,354 506 70,860 (68,891)
Eliminations
- (506) (506) (180)
-------- ------ ------- ---------
70,354 - 70,354 (69,071) (108,129) (177,200)
======== ====== ====== ========= ========= =========
Inter-segment sales are charged at prevailing market prices.
2. LOSS FROM OPERATIONS include the following items:
1.1.2003 1.1.2002
to to
31.12.2003 31.12.2002
----------- ------------
HK$'000 HK$'000
Impairment loss recognised in respect of
property, plant and equipment (9,911) -
Impairment loss recognised in respect of
long term investments (3,900) -
Allowance for a loan to Acme Landis Operations
Holdings Limited, a former subsidiary
(831) (42,115)
Allowance for doubtful debts (1,237) -
Allowance for amount due from an associate
(300) -
Impairment loss recognised in respect of
goodwill of an associate - (48,807)
Allowance for loans to an associate - (14,216)
Loss on discontinuing operations - (4,615)
-------- ---------
3. BASIC LOSS PER SHARE
The calculation of the basic loss per share is based on the net loss for
the period of HK$46,821,000 (2002: HK$191,424,000) and on the weighted
average number of 33,787,991 shares (2002: weighted average number of
28,043,958 shares) in issue during the period.
The denominator for the purposes of calculating basic loss per share of
2002 has been adjusted to reflect the consolidation of shares and the
rights issue of shares in September 2003.
No diluted loss per share has been presented for both periods as the
the exercise of the Company's outstanding share options would reduce the
loss per share for the periods.
4. CHANGE OF FINANCIAL YEAR-END DATE
During the period, the Company changed its financial year-end date from 31
December to 31 March to align the financial year-end date with that of
Easyknit International Holdings Limited. The condensed financial
statements therefore cover a twelve month period from 1 January 2003 to 31
December 2003. The annual report to be issued by the Company will
include, among other matters, financial statements for a fifteen month
period from 1 January 2003 to 31 March 2004.
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