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3 rd Quarter 2002 Results Presentation

3 rd Quarter 2002 Results Presentation. CRA Website: www.cr-asia.com 31 October 2002. A member of the Li & Fung (Retailing) Group. Hong Kong Retail Value Change Year-on-Year % Change. * Source – HKSAR Census and Statistics Department. 3 rd Quarter 2002 Results Presentation Agenda.

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3 rd Quarter 2002 Results Presentation

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  1. 3rd Quarter 2002 ResultsPresentation CRA Website: www.cr-asia.com 31 October 2002 A member of the Li & Fung (Retailing) Group

  2. Hong Kong Retail Value ChangeYear-on-Year % Change * Source – HKSAR Census and Statistics Department

  3. 3rd Quarter 2002 Results PresentationAgenda • 3rd Quarter 2002 Financial Results Highlights • Update & 2002 Outlook • Questions & Answers

  4. 3rd Quarter 2002 Financial Results HighlightsGroup Turnover 3rd Quarter 2002 + 5% No. of Store: 114 123 146 141 157

  5. 3rd Quarter 2002 Financial Results Highlights121 Stores Comparable Sales - 5%

  6. 3rd Quarter 2002 Financial Results HighlightsGroup Turnover Sep YTD 2002 + 6% 1,032.8 978.8 No. of Store: 114 123 146 141 157

  7. 3rd Quarter 2002 Financial Results HighlightsGroup Net Profit – 3rd Quarter 2002 + 3%

  8. 3rd Quarter 2002 Financial Results HighlightsGroup Net Profit – Sep YTD 2002 + 6% 52.5 49.5

  9. 3rd Quarter 2002 Financial Results HighlightsNet Profit as % of Sales – 3rd Quarter 2002 - 0.1%

  10. 3rd Quarter 2002 Financial Results HighlightsNet Profit as % of Sales – Sep YTD 2002

  11. 3rd Quarter 2002 Financial Results HighlightsBasic Earnings Per Share – 3rd Quarter 2002

  12. 3rd Quarter 2002 Financial Results HighlightsBasic Earnings Per Share – Sep YTD 2002 + 3% 7.9 7.7

  13. Why 3rd Quarter 2002 Favorable Results?Higher Gross Margin/Other Income + 0.8%

  14. Why 3rd Quarter 2002 Favorable Results?Offset By Higher Expenses as % of Sales Expenses as % of Sales2002 vs 2001 • Store Operating Expenses (0.7%) Higher • China Start-up Expenses (0.1%) Higher

  15. 3rd Quarter 2002 Financial Results Highlights 3rd Qtr 20013rd Qtr 2002 Group Turnover (HK$ Million) 350.4 366.8 + 5% Group Net Profit (HK$ Million) 20.2 20.8 + 3% Net profit as % of Sales 5.8% 5.7% - 0.1% Basic Earnings Per Store 3.1 Cents 3.1 Cents -

  16. Sep YTD 2002 Financial Results Highlights Sep YTD 2001Sep YTD 2002 Group Turnover (HK$ Million) 978.8 1,032.8 + 6% Group Net Profit (HK$ Million) 49.5 52.5 + 6% Net profit as % of Sales 5.1% 5.1% - Basic Earnings Per Store 7.7 Cents 7.9 Cents + 3%

  17. Update & 2002 Outlook

  18. Update & 2002 OutlookCircle K Hong Kong • Rising Unemployment, Continuing Deflation, Declining Consumer Confidence • No Signs of Recovery • Tough 4th Quarter 2002 * Source – HKSAR Census and Statistics Department

  19. Update & 2002 OutlookCircle K Hong Kong – Store Growth • Beginning of Year : 146 • Opened So Far : + 11 • Construction in Progress/ : + 8 Committed Lease • Target Store Number : 170 at End of the Year

  20. Update & 2002 OutlookCircle K Hong Kong Tactics • Focus on Managing Pricing, Gross Profit & Controlling Expenses • Aggressive & Creative Promotions • Develop Fast-growth Product Categories – Food Services, Phone Cards and Store Services

  21. Update & 2002 OutlookCircle K China • Obtained Business License • 1st Store Ready, Official Opening – 17 November 2002 • 2nd Store Under Construction • Grand Opening – 14 December 2002

  22. Update & 2002 OutlookTo Summarise • Tough Hong Kong Market Slowing Profit Growth • About to Commence Business in Southern China • China Start-up Cost to Increase • 4th Quarter Profit Growth Under Pressure • Fast Store Growth Starting in 2003

  23. Convenience Retail Asia Limited Just Won HKRMA 2002 Service & Courtesy Award Best Under A Billion 200 Companies for 2002 Superbrands Hong Kong 2002

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