SPREADPROSPECTS<00572> - Results Announcement
Spread Prospects Holdings Limited announced on 16/9/2003:
(stock code: 00572 )
Year end date: 31/12/2003
Currency: RMB
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 30/6/2003 to 30/6/2002
Note ('000 ) ('000 )
Turnover : 170,478 91,319
Profit/(Loss) from Operations : 54,974 28,959
Finance cost : (1,479) (1,646)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 42,446 23,952
% Change over Last Period : +77 %
EPS/(LPS)-Basic (in dollars) : 0.139 0.08
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 42,446 23,952
Interim Dividend : Nil N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. BASIS OF PREPARATION & PRINCIPAL ACCOUNTING POLICIES
The shares of the Company are listed on the Main Board of The Stock
Exchange of the Hong Kong Limited (the "Stock Exchange") with effect from
2 July 2003.
The condensed financial statements have been prepared in accordance with
the applicable disclosure requirements of Appendix 16 to the Rules
Governing the Listing of Securities on the Stock Exchange and with the
Statement of Standard Accounting Practice No. 25 "Interim financial
reporting" issued by the HKSA.
The condensed financial statements have been prepared under the historical
cost convention.
The accounting policies adopted are consistent with those followed in the
preparation of the Group's financial statements for the year ended 31
December 2002 as set out in the Prospectus, except as described below.
In the current period, the Group has adopted, for the first time, the
Statement of Standard Accounting Practice No. 12 (Revised) "Income taxes"
("SSAP 12 (Revised)") issued by the HKSA. SSAP 12 (Revised) has
introduced a new basis of accounting for income taxes (including both
current tax and deferred tax). The adoption of SSAP 12 (Revised) has had
no significant effect on the results for the current or prior accounting
periods. Accordingly, no prior year adjustment has been made.
2. TURNOVER
Six months ended 30 June
2003 2002
RMB'000 RMB'000
Business segments
Turnover
Manufacture and sale of tinplate cans 146,459 73,075
Tinplate lacquering and printing services 24,019 18,244
------- -------
170,478 91,319
======= =======
3. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the net profit for
the period of RMB42,446,000 (2002: RMB23,952,000) and the weighted average
of 306,404,420 shares (2002: 300,000,000 shares) that would have been in
issue throughout the period.
There were no potential dilutive ordinary shares during both periods.
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