08:55     401 HOLDINGS<00401> - Results Announcement (4)                      

    3.       SEGMENT TURNOVER AND RESULTS                                     
                                                                              
    Analysis of the Group's turnover and results for the year by principal    
    activities and markets is as follows:                                     
                                                                              
                    Turnover                        Segment result            
                    2004            2003            2004            2003      
                    HK$'000         HK$'000         HK$'000         HK$'000   
                                                                              
    Sales and                                                                 
      leasing of                                                              
      properties    21,925          2,705           (13,952)        (4,524)   
    Logistics,                                                                
      freight                                                                 
      forwarding,                                                             
      and shipping                                                            
      services      651             1,264           (224)           (9,353)   
    Sales of goods  357             1,520           (69)            384       
    Consultancy,                                                              
      marketing and                                                           
      other                                                                   
      services      199             1,342           (383)           676       
    Property and                                                              
      household                                                               
      services      4               102             (659)           (2,220)   
    Others          -               -               (13)            (266)     
                    ---------       ----------      -----------     --------- 
                    23,136          6,933           (15,300)        (15,303)  
                    =========       ==========                                
    Unallocated                                                               
      corporate                                                               
      expenses                                      (17,970)        (27,961)  
    Gain on                                                                   
      disposal of                                                             
      subsidiaries                                  9,372           -         
                                                    ------------    ----------
    Loss from operations                            (23,898)        (43,264)  
                                                    ============    ==========
                                                                              
    4.      OTHER CHARGES                                                     
                                                                              
                                                    2004            2003      
                                                    HK$'000         HK$'000   
    Compensation paid                               -               180       
    Loss on disposal and write off of fixed assets  424             1,672     
    Provision for diminution in the value of                                  
      investment securities                         -               250       
    Provision for amounts due from associates       -               489       
    Provision for bad and doubtful debts            717             1,515     
    Provision for diminution in value of                                      
      properties for sale                           11,877          2,939     
    Unrealised losses for other investment          -               13,200    
    Write off of prepayment, deposits and other                               
      receivables                                   6,080           -         
    Write off of properties for sale                -               630       
                                                    ----------      ----------
                                                    19,098          20,875    
                                                    ==========      ==========