ECO-TEK HLDGS<08169> - Results Announcement (Q1, 2002/2003, Summary)
Eco-Tek Holdings Limited announced on 13/3/2003:
(stock code :08169)
Year end date :31/10/2003
Currency :HKD
Auditors' report :N/A
Review of 1st 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
Currency: $'000
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/11/2002 from 01/11/2001
to 31/01/2003 to 31/01/2002
$'000 $'000
Turnover : 12,892 4,912
Profit/(Loss) from Operations : 1,351 2,039
Finance cost : N/A N/A
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 : 1,021 1,682
% Change Over the Last Period : -39.30 %
EPS / (LPS)
Basic (in dollar) : HKD 0.0018 HKD 0.0033
Diluted (in dollar) : HKD 0.0016 HKD 0.0028
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 1,021 1,682
1st Quarterly Dividend per Share : NIL NIL
(specify if with other options) : N/A
B/C Dates for 1st Quarterly Dividend : 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
Eco-Tek Holdings Limited
Signature :
Name : Chan Shuk Ling Connie
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
The Company was incorporated in the Cayman Islands as an exempted
company with limited liability under the Companies Law of the Cayman
Islands on 6 December 2000. Pursuant to a group reorganisation (the
Group Reorganisation) to rationalise the structure of the Group in
preparation for the listing of its shares on the GEM of the Stock
Exchange on 5 December 2001, the Company became the holding
company of the companies then comprising the Group on 21 November
2001. Further details of the Group Reorganisation are set out in
the Company's prospectus (the "Prospectus") dated 27 November 2001.
2. Basis of presentation
The Group Reorganisation has been accounted for by the Company
using the merger accounting method in accordance with the
Statement of Standard Accounting Practice ("SSAP") No. 2.127
Accounting for group reconstructions issued by the
Hong Kong Society of Accountants.
The comparative figures for the three months ended
31 January 2002 included the results of all companies involved in the
Group Reorganisation, which were assumed to have been in existence
throughout the said periods or since their respective dates of
incorporation, if it was a shorter period. The figures for the
three months ended 31 January 2002 have been prepared as if the Group
Reorganisation had been completed on 1 November 2001.
All significant transactions and balances among the companies
comprising the Group have been eliminated on combination and
consolidation.
3. Earnings per share
The calculation of basic earnings per share for the three months ended
31 January 2003 was based on the unaudited profit attributable to
shareholders of approximately HK$1,021,000 (2002: HK$1,680,000)
and the weighted average number of 552,800,000 shares (2002:
504,730,435 shares) in issue during the period.
The calculation of the diluted earnings per share for the three
months ended 31 January 2003 was based on the unaudited net profit
attributable to shareholders of approximately HK$1,021,000 (2002 :
HK$1,680,000) and the weighted average number of 651,416,516 shares
(2002 : 598,787,729 shares) being the aggregate of 552,800,000 shares
(2002 : 504,730,435 shares) used in the calculation of basic earning per
share plus the deemed issue of 98,616,516 shares (2002 : 94,057,294
shares) at no consideration assuming the pre-IPO share options and the
options granted to Advance New Technology Limited were exercised.
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