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

                                           (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
          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.

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
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.