ITE HOLDINGS<08092> - Results Announcement (Q2, 2003/2004, Summary)

ITE (HOLDINGS) LIMITED announced on 05/11/2003:
(stock code: 08092 )

Year end date                         :31/03/2004
Currency                              :HKD
Auditors' report                      :N/A
Review of 2nd Quarterly Report by     :Audit Committee

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at

                                           (Unaudited)       (Unaudited)
                                              Current Last Corresponding
                                                Period            Period
                                       from 01/04/2003   from 01/04/2002
                                         to 30/09/2003     to 30/09/2002
                                                 $'000             $'000

Turnover                              :         30,861            45,540
Profit/(Loss) from Operations         :        (5,870)           (5,735)
Finance cost                          :          (371)             (230)
Share of Profit/(Loss) of Associates  :            N/A               N/A
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            N/A               N/A
Profit/(Loss) after Taxation & MI     :        (6,241)           (5,965)
% Change Over the Last Period         :            N/A
          Basic (in dollar)           :   (HKD 0.0069)      (HKD 0.0066)
          Diluted (in dollar)         :            N/A      (HKD 0.0063)
Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A
Profit (Loss) after ETD Items         :        (6,241)           (5,965)
2nd Quarterly Dividends per Share     :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 2nd Quarterly Dividends :            N/A
Payable Date                          :            N/A
B/C Dates for (-) General Meeting     :            N/A
Other Distribution for Current Period :            NIL
B/C Dates for Other Distribution      :            N/A
                                       For and on behalf of
                                       ITE (HOLDINGS) LIMITED
                            Signature :
                                 Name :Lau Hon Kwong Vincent
                                Title :Chief Executive Officer

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

Basis of preparation
The unaudited interim financial statements have been prepared in
accordance with Hong Kong Statement of Standard Accounting Practice
25 "Interim Financial Reporting" issued by the Hong Kong Society of
Accountants, and on a basis consistent with those followed in the
Group's annual financial statements for the year ended 31 March 2003.
The financial statements have been prepared in accordance with all
applicable Statements of Standard Accounting Practice and
Interpretations issued by the Hong Kong Society of Accountants,
accounting principles generally accept in Hong Kong and the
disclosure requirements of the Hong Kong Companies Ordinance.
The measurement basis used in the preparation of the accounts is
historical cost. The accounting policies adopted are consistent with
those set out in the annual financial statements for the year ended
31 March 2003 except that the Group has adopted the SSAP 12 (revised)
"Income Taxes" issued by the Hong Kong Society of Accountants which
was effective for accounting periods commencing on or after
1 January 2003. The adoption of SSAP 12 (revised) has no material
impact on the Group's interim financial statements.
Certain comparative figures have been reclassified to conform with
the current period's presentation.
Loss per share
(a) Basic loss per share
The calculation of basic loss per share is based on the loss
attributable to shareholders of approximately HK$6,241,000
(six months ended 30 September 2002: approximately HK$5,965,000)
and the weighted average of 907,536,000 ordinary shares (six
months ended 30 September 2002: 907,980,918 shares) in issue
during the respective periods.
(b) Diluted loss per share
No diluted loss per share is presented for the Period as there were
no dilutive potential ordinary shares in existence during the Period.
The calculation of diluted loss per share for the six months ended
30 September 2002 is based on the loss attributable to shareholders
of approximately HK$5,965,000 and the weighted average of
940,734,972 ordinary shares after adjusting for the effects of
all dilutive potential ordinary shares.