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

ITE (Holdings) Limited announced on 11/06/2004:
(stock code: 08092 )

Year end date                         :31/03/2004
Currency                              :HKD
Auditors' report                      :Unqualified

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

                                             (Audited)         (Audited)
                                              Current Last Corresponding
                                               Period            Period
                                       from 01/04/2003   from 01/04/2002
                                         to 31/03/2004     to 31/03/2003
                                                 $'000             $'000

Turnover                              :         61,843            77,302
Profit/(Loss) from Operations         :       (11,317)          (20,799)
Finance cost                          :          (721)             (582)
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     :       (12,038)          (21,214)
% Change Over the Last Period         :            N/A
          Basic (in dollar)           :   (HKD 0.0133)      (HKD 0.0234)
          Diluted (in dollar)         :            N/A      (HKD 0.0228)
Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A
Profit (Loss) after ETD Items         :       (12,038)          (21,214)
Final Dividends per Share             :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for Final 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
                                       (bdi: both days inclusive)

For and on behalf of
ITE (Holdings) Limited

Signature :
Name      : Lau Hon Kwong Vincent
Title     : Chief Executive

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
to the Information and undertake to indemnify the Exchange against all
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 accounts have been prepared in accordance with all applicable
Statements of Standard Accounting Practice ("SSAP") and Interpretations
issued by the Hong Kong Society of Accountants, accounting principles
generally accepted in Hong Kong and the disclosure requirements of the
Hong Kong Companies Ordinance. The accounts also comply with the
applicable disclosure provisions of the GEM Listing Rules.
The measurement basis used in the preparation of the accounts is
historial cost as modified by the revaluation of trading securities.
The accounting policies used in the preparation of the financial
statements are consistent with the previous year except that the Group
has adopted the revised SSAP 12 "Income taxes" which became effective
for the current financial year. The adoption of the revised statement
has not had any material effect on the results for the current year or
prior accounting periods.
Loss per share
Basis loss per share
The calculation of basic loss per share is based on the loss
attributable to shareholders of approximately HK$12,038,000
(2003: approximately HK$21,214,000) and the weighted average of
907,536,000 ordinary shares (2003: 907,759,068 ordinary shares)
in issue during the year.
Diluted loss per share
No diluted loss per share is presented for the year as there were no
dilutive potential ordinary shares in existence during the year.
The calculation of diluted loss per share of last year is based on
the loss attributable to shareholders of approximately HK$21,214,000
and the weighted average of 930,321,740 ordinary shares after
adjusting for the effects of all potential dilutive ordinary shares.