FX CREATIONS<08136> - Results Announcement (Q2, 2002/2003, Summary)
FX Creations International Holdings Limited announced on 8/11/2002
(stock code: 08136 )
Year end date :31/03/2003
Currency :HKD
Auditors' report :N/A
Review of 2nd Quarterly Report 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 01/04/2002 from 01/04/2001
to 30/09/2002 to 30/09/2001
$'000 $'000
Turnover : 27,114 23,902
Profit/(Loss) from Operations : 1,224 770
Finance cost : (351) (194)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 731 491
% Change Over the Last Period : +48.88%
EPS / (LPS)
Basic (in dollar) : HKD 0.002 HKD 0.0018
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 731 491
2nd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarterly 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
FX Creations International Holdings Limited
Signature :
Name : Ong Chor Wei
Title : Director
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:
1. Group reorganisation and basis of presentation
The Company was incorporated in the Cayman Islands on 10 January 2002
as an exempted company with limited liability under the Companies Law
(2001 Second Revision) of the Cayman Islands.
Pursuant to a reorganisation scheme (the "Group Reorganisation") to
rationalise the structure of the Company and its subsidiaries
(hereinafter collectively referred to as the "Group") in preparation
for the listing of the Company's shares on the Growth Enterprise
Market ("GEM") of The Stock Exchange of Hong Kong Limited (the
"Stock Exchange") in May 2002, the Company became the holding company
of the companies now comprising the Group on 2 May 2002. This was
accomplished by the Company acquiring the entire issued share
capital of Resource Base Enterprises Limited ("RBEL"), the then
holding company of other subsidiaries, in consideration for the
allotment and issue of 5,599,999 shares of HK$0.01 each in the
share capital of the Company, credited as fully paid, to Wise
New Management Limited ("WNML"), the former shareholder of RBEL.
Further details of the Group Reorganisation are set out in the
Company's prospectus dated 8 May 2002 (the "Prospectus"). The
Shares of the Company (the "Shares") were listed on GEM on
21 May 2002.
The unaudited consolidated/combined results have been prepared
using the merger basis of accounting as a result of the Group
Reorganisation. On this basis, the Company has been treated
as the holding company of its subsidiaries since their respective
dates of incorporation rather than from the date of their
acquisition pursuant to the Group Reorganisation. Accordingly,
the unaudited consolidated/combined results of the Group for the
six months ended 30 September 2001 and 2002 included the results
of the Company and its subsidiaries with effect from 1 April 2001
as if the current Group structure has been in existence throughout
the periods.
In the opinion of the Directors, the unaudited consolidated/combined
results prepared on the above basis present fairly the results of
the Group as a whole.
All significant transactions and balances within the Group have
been eliminated on consolidation/combination.
2. Earnings per share
The calculations of basic earnings per share for the three and six
months ended 30 September 2002 are based on the unaudited net profit
from ordinary activities attributable to shareholders for the three
and six months ended 30 September 2002 of approximately HK$324,000
and HK$731,000 respectively (three and six months ended 30 September
2001 : HK$408,000 and HK$491,000) and the weighted average of
400,000,000 shares and 373,475,000 shares in issue during the three
and six months ended 30 September 2002 respectively (pro forma number
of shares in issue for the three and six months ended
30 September 2001: 280,000,000).
Diluted earnings per share for the three months and six months ended
30 September 2002 and the corrresponding periods in 2001 have not
been disclosed as no dilutive events existed during these periods.
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