ITE HOLDINGS<08092> - Results Announcement (Q1, 2005/2006, Summary) ITE (Holdings) Limited announced on 01/08/2005: (stock code: 08092 ) Year end date :31/03/2006 Currency :HKD Auditors' report :N/A 1st Quarterly Report Reviewed 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 http://www.hkgem.com (Unaudited) (Unaudited) Current Last Corresponding Period Period from 01/04/2005 from 01/04/2004 to 30/06/2005 to 30/06/2004 $'000 $'000 Turnover : 15,256 11,966 Profit/(Loss) from Operations : 431 (2,213) Finance cost : (181) (184) 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 : 250 (2,397) % Change Over the Last Period : N/A EPS / (LPS) Basic (in dollar) : HKD 0.0003 (HKD 0.0026) Diluted (in dollar) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit (Loss) after ETD Items : 250 (2,397) 1st Quarter Dividends per Share : NIL NIL (specify if with other options) : N/A N/A B/C Dates for 1st Quarter 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 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. Remarks: Basis of preparation The unaudited consolidated results have been prepared in accordance with all applicable Statements of Standard Accounting Practice and Interpretations issued by the Hong Kong Institute of Certified Public Accountants, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. The unaudited consolidated results also comply with the applicable disclosure provisions of the GEM Listing Rules. The measurement basis used in the preparation of the unaudited consolidated results is historical cost as modified by the revaluation of trading securities. HKICPA has issued a number of new and revised Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards ("new HKFRSs") which are effective for accounting periods beginning on or after 1 January 2005. The accounting policies adopted in the preparation of the unaudited consolidated results are consistent with those used in the consolidated financial statements of the Group for the year ended 31 March 2005 except for the changes in accounting policies upon adoption of the new HKFRS as described below. The adoption of HKFRS 2 has resulted in a change in accounting policy for share options. In prior years, when the Group granted options at nominal consideration to employees to acquire shares in the Company, no employee benefit cost or obligation was recognized at the date of grant. When such options were exercised, shareholders' equity was increased by the amount of the proceeds received. HKFRS 2 requires recognition at fair value of all goods and services received, including employee services, where payment is made in the form of shares or options as well as cash-settled share-based payments. The Directors consider that the share options granted to certain employees of the Group represent share-based payments. However as no options have been granted since 7 November 2002, the provision of HKFRS 2 are not applicable to the Group's outstanding options. Earnings/(Loss) per share (a) Basis earnings/(loss) per share The calculation of basic earnings/(loss) per share is based on the profit attributable to shareholders of approximately HK$250,000 (three months ended 30 June 2004: loss of approximately HK$2,397,000) and the weighted average of 907,536,000 ordinary shares (three months ended 30 June 2004: 907,536,000 shares) in issue during the respective periods. (b) Diluted earnings/(loss) per share No diluted earnings/(loss) per share is presented as there were no dilutive potential ordinary shares in existence during the Period and for the three months ended 30 June 2004. |