TOM GROUP<08001> - Results Announcement (Q1, 2004, Summary)
TOM Group Limited announced on 05/05/2004:
(stock code: 08001 )
Year end date :31/12/2004
Currency :HKD
Auditors' report :N/A
1st Quarterly Report Reviewed by Audit Committee & Auditors
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 01/01/2004 from 01/01/2003
to 31/03/2004 to 31/03/2003
$'000 $'000
Turnover : 514,534 428,294
Profit/(Loss) from Operations : 669,907 (31,679)
Finance cost : (7,568) (4,980)
Share of Profit/(Loss) of Associates : 120 308
Share of Profit/(Loss) of Jointly
Controlled Entites : (295) (2,598)
Profit/(Loss) after Taxation & MI : 653,893 (42,857)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.1686 HKD (0.0129)
Diluted (in dollar) : HKD 0.1549 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 653,893 (42,857)
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarter 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
TOM Group Limited
Signature :
Name : Tommei Tong
Title : Executive 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.
1. Basis of preparation
The principal accounting policies adopted in preparing
the unaudited consolidated results conform with
accounting principles generally accepted in Hong Kong
and accounting standards issued by the Hong Kong
Society of Accountants.
2. Restatement of turnover and cost of sales
The Group's wireless value-added services are
delivered to users through the wireless data platforms
of the mobile telecommunications operators pursuant to
revenue sharing agreements. In prior years, the Group
reported these wireless value-added services revenues
net of the revenues shared with the mobile
telecommunications operators. In 2003, the Directors
are of the opinion that it is more appropriate to adopt
the gross basis of recognition of wireless value-added
services revenues commencing from 1 January 2003. This change
in recognition basis has no overall effect on the Group's
results. To facilitate better comparison of year-on-year
results, both turnover and cost of sales of first quarter
2003 have been restated and increased by HK$16,890,000.
3. Earnings/(loss) per share
(a) Basic
The calculation of basic earnings/(loss) per share for the three
months ended 31 March 2004 is based on the unaudited profit
attributable to shareholders of HK$653,893,000
(2003: loss of HK$42,857,000) and the weighted average of 3,878,261,817
(2003: 3,330,746,066) ordinary shares in issue during the periods.
(b) Diluted
The calculation of diluted earnings per share for the three months
ended 31 March 2004 is based on the unaudited adjusted profit
attributable to shareholders of HK$659,037,000, after adding back
the borrowing costs of the convertible bonds, and the weighted
average of 4,254,754,901 ordinary shares issued and issuable
after adjusting for the effects of all dilutive potential ordinary
shares, as if the outstanding share options, consideration
shares for acquisition of subsidiaries and convertible bonds issued
by the Company had been exercised, issued or converted into
ordinary shares at the date of issuance.
The exercise of share options granted and the issuance of
consideration shares by the Company would have an anti-dilutive
effect on the loss per share for the three months ended 31 March 2003.
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