VITAL BIOTECH<08193> - Results Announcement (Q1, 2003, Summary)
Vital BioTech Holdings Limited announced on 09/05/2003
(stock code: 08193 )
Year end date :31/12/2003
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
(Unaudited) (Unaudited)
Current Last Corresponding
Period Period
from 01/01/2003 from 01/01/2002
to 31/03/2003 to 31/03/2002
$'000 $'000
Turnover : 65,003 22,885
Profit/(Loss) from Operations : 17,733 8,155
Finance cost : (1,455) (822)
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 : 11,322 6,161
% Change Over the Last Period : +83.77%
EPS / (LPS)
Basic (in dollar) : HKD 0.0092 HKD 0.0056
Diluted (in dollar) : HKD 0.0092 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 11,322 6,161
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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
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. Basis of preparation
The unaudited consolidated profit and loss account for the
three months ended 31 March 2003 (the ¡§consolidated profit
and loss account¡¨) has been prepared in accordance with
accounting principles generally accepted in Hong Kong and
comply with accounting standards issued by the Hong Kong
Society of Accountants (the ¡§HKSA¡¨).
The principal accounting policies and methods of computation
used in the preparation of the consolidated profit and loss
account are consistent with those used in the annual accounts
of the Group for the year ended 31 December 2002 except for
the adoption of Statement of Standard Accounting Practice
2.112 (revised), ¡§Income taxes¡¨, issued by the HKSA (¡§SSAP
12 (revised)¡¨) which is effective for accounting period
commencing on 1 January 2003.
The Group does not have significant deferred tax assets or
liabilities which have to be recognised in accordance with
SSAP 12 (revised) and which have to be adjusted to the
retained profits as at 1 January 2003.
The consolidated profit and loss account should be read in
conjunction with the 2002 annual accounts.
2. Turnover
The Group is principally engaged in manufacturing and
trading of pharmaceutical products. Turnover represents
invoiced value of sales net of returns, discounts allowed,
sales taxes or value added taxes, where applicable. The
Group's principal market is in mainland China.
3. Earnings per share
The calculation of the basic earnings per shares is based
on the profit attributable to shareholders of
approximately HK$11,322,000 (2002: HK$6,161,000) and
weighted average of approximately 1,227,347,268
(2001: 1,101,333,000) ordinary shares in issue during
the period.
At 31 March 2003, the Board has allotted share options to
subscribe for 49,800,000 ordinary shares of the Company. The
grantees are entitled to subscribe for 34,930,000 shares as
at 31 March 2003. The calculation of diluted earnings per share
is based on the profit attributable to shareholders of
HK$11,322,000 and the weighted average of 1,233,947,268 shares
deemed to be issued during the period. Diluted earnings per
share for the three months ended 31 March 2002 is not presented
as there were no dilutive potential ordinary shares in
existence during that period.
As per the announcement made on 7 August 2002, the weighted
average number of shares on the published first quarterly
report of 2002, based on the assumption that the reorganisation
of the Group had been completed on 1 January 2001 should be
restated from 1,200,000,000 shares to 1,101,333,000 shares.
Accordingly, the basic earnings per share, as shown on the
published first quarterly report of 2002, based on the net
profits attributable to shareholders of HK$6,161,000 should
be restated from HK0.513cent to HK0.56 cent.
4. Dividend
The Board did not recommend any interim dividend for the
quarter ended 31 March 2003 (2002: Nil).
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