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Lung Kee (Bermuda) Holdings Limited

Consolidated Profit and Loss Account
For the year ended 31st March, 1999

                                                       1999          1998
                                      Notes             HK$           HK$

TURNOVER                                        686,126,737   663,681,098
                                                ===========   ===========
OPERATING PROFIT                        4        94,727,528   151,617,737
SHARE OF RESULTS OF JOINTLY
 CONTROLLED ENTITIES                                 22,231    (3,692,419)
SHARE OF RESULTS OF AN ASSOCIATED
 COMPANY                                           (287,995)     (693,893)
                                                -----------   -----------
PROFIT BEFORE TAXATION                           94,461,764   147,231,425
TAXATION                                6        11,449,952    16,242,110
                                                -----------   -----------
PROFIT BEFORE MINORITY INTERESTS                 83,011,812   130,989,315
MINORITY INTERESTS                               16,642,957    27,510,505
                                                -----------   -----------
PROFIT ATTRIBUTABLE TO SHAREHOLDERS     7        66,368,855   103,478,810
DIVIDENDS                               8        37,955,938    60,916,076
                                                -----------   -----------
PROFIT FOR THE YEAR, RETAINED                    28,412,917    42,562,734
                                                ===========   ===========
EARNINGS PER SHARE                      9
Basic                                           17.49 cents   27.41 cents
                                                ===========   ===========
Diluted                                         17.40 cents   27.28 cents
                                                ===========   ===========

Source: Lung Kee (Bermuda) Holdings Limited
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