Flexible Strategy to Capture the BusinessPotential from Growth and Development.pdfVIP

Flexible Strategy to Capture the Business Potential from Growth and Development of Energy-related Businesses Dong Fang Gas Holdings Limited 06 Management DISCUSSION AND ANALYSIS Review of Financial Results and Operations For the year ended 31 March 2003, the Group recorded a consolidated turnover of approximately HK$136.2 million, compared with HK$258.3 136,200,000 million for the year ended 31 March 2002. Net loss for the year was approximately HK$113.2 million, representing a significant improvement 258,300,000 compared to net loss of HK$459.0 million in the previous year. 113,200,000 459,000,000 During the current year, the Group’s building material business in Hong Kong still facing difficult operating environment in view of the local economic recession, high unemployment rate and sluggish property market. The Group has, after careful consideration, scaled down its non- performing operation in Hong Kong during the year. Despite the unfavorable performance in the local market, the Group’s business in the United States still manages to progress well. Sales to Home Depot, a reputable home products retailer in the United States, amounted to Home approximately HK$49.8 million for the year, represented a 73% increase Depot49,800,000 compared with prior year. 73% With a view to improve its financial position and to face the challenges of the existing operating environment, the Group has undertaken a series of measures including the fund raising exercises, exploration of new business oppor