FX CREATIONS<08136> - Results Announcement (Q2, 2003/2004, Summary)
FX Creations International Holdings Limited announced on 05/11/2003:
(stock code: 08136 )
Year end date :31/03/2004
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 01/04/2003 from 01/04/2002
to 30/09/2003 to 30/09/2002
$'000 $'000
Turnover : 29,234 27,114
Profit/(Loss) from Operations : 1,144 1,224
Finance cost : (228) (351)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 783 731
% Change Over the Last Period : +7.11 %
EPS / (LPS)
Basic (in dollar) : HKD 0.002 HKD 0.002
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 783 731
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
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 PREPARATION
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 group structure in
preparation for the listing of the Company's shares on
GEM of the Stock Exchange, the Company became the
holding company of its subsidiaries on 2 May 2002
(collectively the "Group"). Details of the Group
Reorganisation are set out in the Company's prospectus
dated 8 May 2002 (the "Prospectus"). The shares of
the Company were listed on GEM on 21 May 2002.
The unaudited consolidated 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.
The unaudited condensed consolidated interim accounts
have been prepared in accordance with the Hong Kong
Statememt of Standard Accounting Practice No. 25
"Interim Financial Reporting" issued by the Hong Kong
Society of Accountants and the disclosure requirements
set out in Chapter 18 of the GEM Listing Rules.
The principal accounting policies used in the
preparation of these unaudited condensed consolidated
interim accounts are consistent with those used in the
annual accounts for the year ended 31 March 2003,
except for the new adoption of Statement of Standard
Accounting Practice No. 12 (Revised)
"Accounting for Income Taxes" issued by the Hong Kong
Society of Accountants, which has no significant impact
on the unaudited consolidated results for the six
months ended 30 September 2003.
2. EARNINGS PER SHARE
The calculation of basic earnings per share for the
three and six months ended 30 September 2003 are based
on the unaudited consolidated net profit attributable
to shareholders for the three and six months ended 30
September 2003 of approximately HK$340,000 and
HK$783,000 respectively (three and six months ended 30
September 2002: HK$324,000 and HK$731,000) and on
400,000,000 shares in issue during the three and six
months ended 30 September 2003 (weighted average number
of shares in issue for the three and six months ended
30 September 2002: 400,000,000 shares and 373,475,000
shares respectively).
Diluted earnings per share for the three months and six
months ended 30 September 2003 and the corresponding
periods in 2002 have not been disclosed as no dilutive
events existed during those periods.
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