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 http://www.hkgem.com (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% EPS / (LPS) 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. Remarks: 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 periods. (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. |