RECRUIT<08073> - Results Announcement Recruit Holdings Limited announced on 04/02/2005: (stock code: 08073 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: Unqualified Important Note: This result announcement form only contain extracted information from and should be read in conjunction with the detailed results announcement of the issuer, which can be view on the GEM website at http://www.hkgem.com (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000 ) ('000 ) Turnover 2 : 103,995 50,293 Profit/(Loss) from Operations 3 : 34,396 2,598 Finance cost : 0 (115) Share of Profit/(Loss) of Associates : 0 0 Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : 34,368 2,483 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) 4 : 0.1470 0.0178 -Diluted (in dollars) 4 : 0.1463 0.0177 Extraordinary (ETD) Gain/(Loss) : 0 0 Profit/(Loss) after ETD Items : 34,368 2,483 Final Dividend : 0 0 per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A For and on behalf of Recruit Holdings Limited Name : Ho Suk Yi 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 financial statements have been prepared in accordance with the accounting principles generally accepted in Hong Kong and in compliance with accounting standards issued by the Hong Kong Institute of Certified Public Accountants. They have been prepared under the historical cost as modified for the revaluation of investment property. In the current year, the Group has early adopted Hong Kong Accounting Standard ("HKAS") 40 Investment Property in advance of its effective date. HKAS 40 introduces both cost model and fair value model for the measurement of investment property. For fair value model, HKAS 40 requires fair value changes be recognised to the income statement in the period in which they arise. The Group has elected to apply the fair value model in measuring its investment property and recognizes the fair value changes to the income statement in the period in which they arise. The early adoption of HKAS 40 does not have impact to the result of previous years as the Group did not have any investment property in previous years. 2. Turnover Year ended 31st December 2004 2003 HK$'000 HK$'000 Advertising income 103,615 49,943 Service income 350 350 Publication sales 30 - ------------------------- 103,995 50,293 ========================= 3. Profit from operations Profit from operations has been arrived at after charging (crediting): Year ended 31st December 2004 2003 HK$'000 HK$'000 Auditors' remuneration 250 185 Depreciation 1,360 1,456 Staff costs 15,322 14,245 Minimum lease payments paid under operating leases in respect of Rented premises 1,211 591 Internet access line 91 112 Gain from changes in fair value of investment property (1,945) - Interest income (222) (96) Gain on disposal of a jointly controlled entity - (200) Operating lease rental income from Subleasing of office premises (90) (219) Investment property (88) - 4. Earnings per share The calculation of the basic and diluted earnings per share is based on the following data: Year ended 31st December 2004 2003 HK$'000 HK$'000 Earnings for the purposes of basic and diluted earnings per share for the year 34,368 2,483 =========================== Number of shares ('000) (Restated) Weighted average 233,784 139,699 number of ordinary shares for the purposes of basic earnings per share Effect of dilutive potential ordinary shares in respect of share options granted 1,142 242 --------------------------- Weighted average number of ordinary shares for the purposes of diluted earnings per share 234,926 139,941 =========================== The comparative figures of earnings per share for the year ended 31st December 2003 had been re-calculated to reflect a rights issue and a share consolidation occurred during the year. |