PIONEER GLOBAL<00224> - Results Announcement (Summary)
Pioneer Global Group Limited announced on 18/7/2002:
(stock code: 224)
Year end date: 31/3/2002
Currency: HK$
Auditors' Report: Unqualified
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2001 from 1/4/2000
to 31/3/2002 to 31/3/2001
('000) ('000)
Turnover : 49,256 63,913
Profit/(Loss) from Operations : (33,258) 22,853
Finance cost : (586) (9,220)
Share of Profit/(Loss) of Associates : (19,412) (13,557)
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : (53,538) 195
% Change over Last Period : N/A
EPS/(LPS)-Basic : (7.11 cents) 0.03 cent
-Diluted : - -
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : (53,538) 195
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 : NIL
Other Distribution for Current Period : -
B/C Dates for Other Distribution : -
Remarks:
1. Segmental information
Segmental information is presented by way of two segment formats:
(i) on a primary reporting basis by business segment; and (ii) on a
secondary reporting basis by geographical segment.
Business segments
Property Investments
2002 2001 2002 2001
HK$'000 HK$'000 HK$'000 HK$'000
Segmental turnover
26,541 28,884 5,690 11,008
Segmental result
15,414 12,694 1,088 5,350
Unallocated corporate expenses
Operating profit
Share of profits and (losses) of associates
- Listed 7,032 -
- Unlisted
(25,936) (9,483) - -
Information Technology Consolidated
2002 2001 2002 2001
HK$'000 HK$'000 HK$'000 HK$'000
Segmental turnover
17,025 24,021 49,256 63,913
====== ======
Segmental result
(5,457) 5,293 11,045 23,337
Unallocated corporate expenses (3,010) (3,367)
--------- -------
Operating Profit 8,035 19,970
Share of profits and (losses) of associates
- Listed 7,032 -
- Unlisted
(508) (4,074) (26,444) (13,557)
Finance costs (586) (9,220)
Net (loss)/profit on disposal of
assets less impairment provisions (41,293) 2,883
Taxation (2,126) (1,210)
Minority interests 1,844 1,329
-------- -------
Net(loss)/profit (53,538) 195
========= =======
Geographical segments
Turover by
Geographical Market
2002 2001
HK$'000 HK$'000
Hong Kong 47,874 57,251
Overseas 1,382 6,662
------ --------
49,256 63,913
====== ========
2. Taxation
2002 2001
HK$'000 HK$'000
Group
Current provision
Hong Kong 522 76
Overseas 246 -
(Over)/Under provision in prior year
Hong Kong (73) -
Overseas - 1,134
----- ------
695 1,210
Listed associate, overseas taxation
1,431 -
----- -----
2,126 1,210
===== =====
Hong Kong profits tax has been provided at the rate of 16% (2001: 16%) on
the estimated Hong Kong source assessable profits for the year. Overseas
tax in respect of the Group and the listed associate has been provided at
the applicable rates in the countries in which the tax is levied.
In respect of deferred taxation, the Group has not made provision for
potential liabilities representing taxation in the event of future
disposal of certain properties amounting to HK$1,500,000 (2001:
HK$1,360,000). This liability has not provided for because it is not the
present intention of the directors that the Group dispose of these
properties.
3. Loss per share
Loss per share is calculated on loss attributable to shareholders
amounting to HK$53,538,000 (2001 : Profit HK$195,000) and on the weighted
average number of 752,468,545 shares in issue during the year (2001 : on
the weighted average number of 611,761,549 shares in issue during the
year).
No diluted loss or earnings per share have been presented for the
years ended 31 March 2002 and 31 March 2001 as the exercise prices of the
share options granted by the Company were higher than the fair value per
share.
4. Comparative figures
Certain comparative figures have been reclassified to conform with
the current year's presentation.
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