VITAL BIOTECH<08193> - Results Announcement (Q3, 2002, Summary)
Vital BioTech Holdings Limited announced on 08/11/2002:
(stock code: 08193)
Year end date :31/12/2002
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 01/01/2002 from 01/01/2001
to 30/09/2002 to 30/09/2001
$'000 $'000
Turnover : 106,522 79,197
Profit/(Loss) from Operations : 29,583 24,400
Finance cost : (2,186) (1,891)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 24,097 22,267
% Change Over the Last Period : +8.22%
EPS / (LPS)
Basic (in dollar) : HKD 0.0206 HKD 0.0232
Diluted (in dollar) : HKD 0.0206 HKD 0.0232
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 24,097 22,267
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
Vital BioTech Holdings Limited
Signature :
Name : Lam Kai Cheung
Title : Company Secretary
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
Pursuant to a group reorganisation (the "Group Reorganisation")
to rationalise the group structure in preparation for the
listing of the Company's shares on the Growth Enterprises Market
of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"),
the Company became the holding company of the subsidiaries
(collectively the "Group"). The Group Reorganisation was
completed on 26 January 2002 and the shares of the Company
were listed on the Stock Exchange on 7 February 2002.
According to the provisions of SSAP No. 27 ¡¥Accounting for the
group reconstructions¡¦issued by the Hong Kong Society of
Accountants, the structure of the Group can be regarded as in
existence in the past.
The third quarterly report of the Group was unaudited. The
third quarter financial statements of the Group have been
reviewed by the audit committee of the Group.
2. Turnover
The Group is principally engaged in biotechnology research,
manufacturing and trading of pharmaceutical products. Turnover
represents invoiced sales net of return goods, discounts
allowed, sales taxes or value added taxes, where applicable.
3. Earnings per share
The calculation of the basic earnings per shares is based
on the profit attributable to shareholders of
approximately HK$24,097,000 (2001: HK$22,267,000) and
weighted average of approximately 1,168,775,000
(2001: 960,000,000) ordinary shares in issue during
the period, and with the assumption that the Group
Reorganisation had been completed on 1 January 2001.
On 21 June 2002, the Board granted share options to subscribe
for 30,000,000 ordinary shares of the Company. The grantees
are entitled to exercise portion of the share options
commencing 16 August 2002 to 6 February 2012 to subscribe for
approximately 6,850,000 shares. The dilution effect of such
ordinary shares to earnings per share for the 9 months ended
30 September 2002 is not material and no diluted earnings
per share (2001: nil) is presented.
4. Dividend
The Board did not recommend the payment of an interim dividend
for the quarter ended 30 September 2002 (2001: nil).
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