FX CREATIONS<08136> - Results Announcement (Q3, 2002/2003, Summary)
FX Creations International Holdings Limited announced on 24/01/2003
(stock codes: Ord: 08136)
Year end date :31/03/2003
Currency :HKD
Auditors' report :N/A
Review of 3rd 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 31/12/2002 to 31/12/2001
$'000 $'000
Turnover : 42,893 35,857
Profit/(Loss) from Operations : 1,813 1,654
Finance cost : -515 -263
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 1,090 1,168
% Change Over the Last Period : -6.68%
EPS / (LPS)
Basic (in dollar) : HKD 0.003 HKD 0.0042
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 1,090 1,168
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd 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
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
10th 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
GEM, the Company acquired the entire issued share capital of
Resource Base Enterprises Limited and became the holding
company of the subsidiaries comprising the Group on 2nd May, 2002.
Details of the Group Reorganisation are set out in the
Company's prospectus dated 8th May, 2002. The Shares of the
Company were listed on GEM on 21st May, 2002.
The unaudited consolidated results and the comparative unaudited
pro forma 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 three months and
nine months ended 31st December, 2001 and 2002 included the
results of the Company and its subsidiaries with effect
from 1st April, 2001 and 2002 respectively 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 basic 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 calculation of basic earnings per share for the three months
and nine months ended 31st December, 2002 is based on the unaudited
net profit from ordinary activities attributable to shareholders
for the three months and nine months ended 31st December, 2002
of approximately HK$359,000 and HK$1,090,000 respectively (three
months and nine months ended 31st December, 2001: HK$677,000
and HK$1,168,000 respectively) and the weighted average of
400,000,000 and 360,219,000 shares respectively in issue
during the three months and nine months ended 31st December, 2002
(pro forma number of shares in issue for the three months
and nine months ended 31st December, 2001 : 280,000,000 shares).
Diluted earnings per share for the three months and
nine months ended 31st December, 2001 and 2002 have not
been disclosed as no diluting events existed during those periods.
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