Listed Company Information
 

SHUN CHEONG<00650> - Results Announcement

Shun Cheong Holdings Limited announced on 14/07/2005:
(stock code: 00650 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/04/2004    from 01/04/2003
                                     to 31/03/2005      to 31/03/2004
                               Note  ('000      )       ('000      )
Turnover                           : 550,031            734,189           
Profit/(Loss) from Operations      : (32,302)           17,527            
Finance cost                       : (1,524)            (1,877)           
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       : (33,729)           1,805             
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.2909)           0.0156            
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (33,729)           1,805             
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.      Impact of Recently Issued Hong Kong Financial Reporting Standards 
("HKFRSs")

The Hong Kong Institute of Certified Public Accountants has issued a 
number of new Hong Kong Financial Reporting Standards and Hong Kong 
Accounting Standards, herein collectively referred to as the new HKFRSs, 
which are generally effective for accounting periods beginning on or after 
1 January 2005.  The Group has not early adopted these new HKFRSs in the 
financial statements for the year ended 31 March 2005.  The Group has 
already commenced an assessment of the impact of these new HKFRSs but is 
not yet in a position to state whether these new HKFRSs would have a 
significant impact on its results of operations and financial position.

2.      Analysis of Turnover and Operating Profits/(Loss)

                 Turnover                  Contribution to Operating
                                                Profit/(Loss)
        2005            2004            2005            2004
        (Audited)       (Audited)       (Audited)       (Audited)
        HK$'000         HK$'000         HK$'000         HK$'000
                                                                
Building services contracting business and project management              
        525,850         706,819         (28,658)        25,362
Trading of electrical and mechanical engineering materials and equipment   
        24,181          27,370          (5,035)         (2,707)
------------------------------------------------------------------------
        550,031         734,189         (33,693)        22,655
=================================                               
Interest income and unallocated gains
                                           2,045        1,809
Unrealized holding losses on long term investments                         
                                        (654)           (8,863)
Gain on dissolution of discontinued operations                             
                                        -               4,105
Provision for amounts due from former subsidiaries                         
                                        -               (2,179)
                                        ------------------------
Profit/(loss) from operating activities                                    
                                        (32,302)        17,527
                                        =========================

3.      Profit/(Loss) from Operating Activities

Profit/(loss) from operating activities is arrived at after charging/(
crediting):

                                        2005            2004
                                        HK$'000         HK$'000
                                
Depreciation                            1,749           2,539
Staff costs (including directors' 
  remuneration)                         43,133          65,954
Unrealized holding losses on long term 
  investments                           654             8,863
Bank interest income                    (87)            (203)
Loss/(gain) on dissolution of a 
  subsidiary                            (313)           33
Gain on dissolution of an associate     (199)           -
Provision for amounts due from former 
  subsidiaries                          -               2,179
Gain on dissolution of discontinued 
  operation                             -               (4,105)
                                        ---------------------------        
                     

4.      Earning/(Loss) per Share

                                        2005            2004
                                        HK$'000         HK$'000
                                
Earnings/(loss)                         
Net profit/(loss) attributable to 
  shareholders, used in the basic 
  earnings/(loss) per share calculation (33,729)        1,805
                                
Shares                                                  (Restated)*
Number of ordinary shares in issue during 
  the year used in the basic 
  earnings/(loss) per share 
  calculation                           115,930,400     115,930,400
                                        ============================

*       The number of ordinary shares was adjusted as a result of the 
Capital Reorganization (as defined in the Company's circular to 
shareholders dated 24 August 2004) on 16 September 2004.

Diluted earning/(loss) per share amounts for the years ended 31 March 2005 
and 2004 have not been disclosed as no diluting events existed during the 
two years.