08:57     DAIDO GROUP<00544> - Results Announcement (2)                       

                                                                              
    Inter-segment sales are charged at cost or cost plus a percentage profit  
    mark-up.                                                                  
                                                                              
    SEGMENT RESULT                                                            
                                                                              
    (149)           39,854          -               -               39,705    
    =======         ========        ===========     ========                  
                                                                              
    Amortisation of goodwill                                                  
                                                                              
    -               (555)           -               -               (555)     
                                                                              
    Reversal of impairment                                                    
    loss in respect of property,                                              
    plant and equipment                                                       
                                                                              
    55,946          -               -               -               55,946    
                                                                              
    Unallocated corporate expenses                                  (1,732)   
                                                                    --------- 
    Profit from operations                                          93,364    
    Finance costs                                                             
    -               (8,463)         -               -               (8,463)   
    Amortisation of goodwill                                                  
    in an associate                                                 (166)     
    Share of results of an associate                                (288)     
                                                                    _______   
    Profit before taxation                                          84,447    
    Taxation                                                        1,972     
                                                                    _______   
    Net profit for the year                                         86,419    
                                                                    ========  
                                                                              
    2003                                                                      
                                                                              
    Continuing operation   Discontinuing operations                           
    --------------------- -------------------------                           
                                                                              
    Construction                           Manufacturing                      
    work contracting  Property   Sales of  and sale of                        
    and sales of      Investment steel     metal                              
    concrete products            products  products  Eliminations Consolidated
    HK$'000           HK$'000    HK$'000   HK$'000   HK$'000      HK$'000     
                                                                              
    REVENUE                                                                   
                                                                              
                                                                              
    External sales                                                            
    84,025          33,500          145     34,442   -              152,112   
                                                                              
    Inter-segment sales                                                       
    -               -               -       2,687   (2,687)         -         
    ----------      ------------    ------  ------- ----------      --------- 
                                                                              
    Total revenue                                                             
    84,025          33,500          145     37,129  (2,687)         152,112   
    ======          ======          ===     ======  ========        =======   
                                                                              
                                                                              
                                                                              
    Inter-segment sales are charged at cost plus a percentage profit mark-up. 
                                                                              
                                                                              
                                                                              
    SEGMENT RESULT                                                            
    11,453          32,824          (37)    3,475           -       47,715    
    ========        =======         ======  ======  ============              
                                                                              
                                                                              
                                                                              
    Amortisation of goodwill                                                  
    -               (463)           -       -               -       (463)     
                                                                              
    Gain/(loss) on disposal of interest in subsidiaries                       
    505             -               (856)   (7,967)         -       (8,318)   
                                                                              
    Unallocated corporate                                                     
    expenses                                                        (2,827)   
                                                                    --------  
    Profit from operations                                          36,107    
                                                                              
    Finance costs                                                             
    (173)           (11,111)        -       (113)           -       (11,397)  
                                                                    ----------
    Profit before taxation                                          24,710    
    Taxation                                                        (3,879)   
                                                                    ----------
    Net profit for the year                                         20,831    
                                                                    =========