ITE HOLDINGS<08092> - Results Announcement (Q2, 2006/2007, Summary)

ITE (Holdings) Limited announced on 10/11/2006:
(stock code: 08092 )

Year end date                         :31/03/2007
Currency                              :HKD
Auditors' report                      :N/A
2nd 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 01/04/2006   from 01/04/2005
                                         to 30/09/2006     to 30/09/2005
                                                 $'000             $'000

Turnover                              :         32,021            32,696
Profit/(Loss) from Operations         :          1,101             1,019
Finance cost                          :          (701)             (514)
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     :            290               505
% Change Over the Last Period         :         -42.57%
          Basic (in dollar)           :     HKD 0.0023        HKD 0.0006
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :          1,773               N/A
Profit (Loss) after ETD Items         :          2,063               505
2nd Quarter Dividends per Share       :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 2nd 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     : Chairman

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 consolidated financial statements have been
prepared in accordance with the Hong Kong Financial Reporting
Standard 34 "Interim Financial Reporting" issued by the Hong Kong
Institute of Certified Public Accountants and applicable disclosure
requirements of the Hong Kong Companies Ordinance and the GEM
Listing Rules.
The unaudited interim consolidated financial statements have been
prepared under the historical cost convention, as modified by the
revaluation of certain investments which are carried at their
fair values.
The principal accounting policies used in the preparation of the
unaudited interim consolidated financial statements are consistent
with those adopted in the preparation of the annual consolidated
financial statements of the Group for the year ended 31 March 2006.
Gain on disposal of available-for-sale financial assets
On 27 June 2006, ITE (China) Limited, a wholly-owned subsidiary
of the Company, entered into an agreement with Mr. Hu pursuant
to which Mr. Hu agreed to acquire 5% equity interest in Shanghai
Yanhua from ITE (China) Limited at a cash consideration of
RMB3,900,000. The 5% equity interest of Shanghai Yanhua was
treated as available-for-sale financial assets with carrying
value of HK$2,074,029 in the annual report of the Company for
the year ended 31 March 2006. The transaction was completed
in August 2006 with the gain of approximately HK$1,773,000.
Further details are set out in the Company's circular dated
31 July 2006.
Earnings per share
(a) Basic earnings per share
The calcuation of basic earnings per share is based on the
profit attributable to shareholders of the Company of
approximately HK$2,063,000 (six months ended 30 September
2005: approximately HK$505,000) and the weighted average of
907,536,000 ordinary shares (six months ended 30 September
2005: 907,536,000 shares) in issue during the respective
(b) Diluted earnings per share
No diluted earnings per share is presented as there were
no dilutive potential ordinary shares in existence during
the Period and for the six months ended 30 September 2005.