SPREADPROSPECTS<00572> - Results Announcement
Spread Prospects Holdings Limited announced on 15/9/2004:
(stock code: 00572 )
Year end date: 31/12/2004
Currency: RMB
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/1/2004 from 1/1/2003
to 30/6/2004 to 30/6/2003
Note ('000 ) ('000 )
Turnover : 190,617 170,478
Profit/(Loss) from Operations : 54,463 54,974
Finance cost : (1,325) (1,479)
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 : 42,063 42,446
% Change over Last Period : -0.9 %
EPS/(LPS)-Basic (in dollars) : 0.109 0.139
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 42,063 42,446
Interim Dividend : Nil Nil
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 Company was incorporated as an exempted company with limited liability
in the Cayman Islands on 21 October 2002 under the Companies Law, Cap.22
(Law 3 of 1961, as consolidated and revised) of the Cayman Islands.
Pursuant to a series of group reorganisation steps (the "Reorganisation"),
the Company has since 2 June 2003 become the holding company of the
subsidiaries now comprising the Group.
The group resulting from the Reorganisation is regarded as a continuing
entity. Accordingly, the condensed financial statements of the Group have
been prepared using the merger basis of accounting as if the Company had
always been the holding company of the subsidiaries now comprising the
Group in accordance with the Statement of Standard Accounting Practice
No.27 "Accounting for group reconstructions" issued by the Hong Kong
Institute of Certified Public Accountants (the "HKICPA").
The Company's ultimate holding company is Fu Teng Global Limited ("Fu
Teng"), a company incorporated in the British Virgin Islands.
The condensed financial statements have been prepared in accordance with
the applicable disclosure requirement of Appendix 16 to the Rules
Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited (the "Stock Exchange") and with the Statements of Standard
Accounting Practice No.25 "Interim financial reporting" issued by the
HKICPA.
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 annual financial statements for the year ended
31 December 2003.
2. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the net profit for
the period of RMB42,063,000 (2003: RMB42,446,000) and on the weighted
average of 386,536,264 shares (2003: 306,404,420 shares) in issue
throughout the period. The 300,000,000 shares issued prior to the listing
of the Company's shares on the Stock Exchange and pursuant to the
Reorganisation are treated as if they had been in issue throughout the
period ended 30 June 2003.
No diluted earnings per share for the period ended 30 June 2004 has been
presented because the exercise price of the Company's outstanding share
options is higher than the average market price of the Company's shares.
There were no potential ordinary shares during the period ended 30 June
2003.
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