RECRUIT<08073> - Results Announcement
Recruit Holdings Limited announced on 09/05/2005:
(stock code: 08073 )
Year end date: 31/12/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
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
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 31/03/2005 to 31/03/2004
Note ('000 ) ('000 )
Turnover 3 : 31,461 16,006
Profit/(Loss) from Operations 4 : 4,856 3,474
Finance cost : 0 0
Share of Profit/(Loss) of
Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 4,841 3,474
% Change over Last Period : +39 %
EPS/(LPS)-Basic (in dollars) 5 : 0.0178 0.0230
-Diluted (in dollars) 5 : 0.0176 0.0229
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 4,841 3,474
1st Quarter Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
1st Quarter 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:
Notes:
1. Basis of preparation
The unaudited quarterly financial statements have been prepared in
accordance with new HKFRSs (which also include Statements of Standard
Accounting Practice and Interpretations) issued by the Hong Kong
Institute of Certified Public Accountants ("the HKICPA"), and
accounting principles generally accepted in Hong Kong. The principal
accounting policies adopted in preparing these financial statements
are consistent with those followed in the Group's annual audited
consolidated financial statements for the year ended 31st December,
2004 except those mentioned in note 2 below.
2. Changes in accounting policies
The HKICPA has issued a number of new Hong Kong Financial Reporting
Standards ("HKFRS"), Hong Kong Accounting Standards ("HKASs") and
Interpretations, herein collectively referred to as the "new HKFRSs",
which are generally effective for accounting periods beginning on or
after 1st January, 2005. The Group has adopted these new HKFRSs for the
first time in the period under review.
The major effect of adoption of these new HKFRSs are summarized as
follows:
The adoption of HKFRS 2 - Share-based Payments requires all share
options granted to employees or other parties to be recognized in the
financial statements. The fair value of the share options at grant date
will be amortized over the relevant vesting periods to the income
statement. HKFRS 2 has been applied retrospectively for share options
granted to employees after 7th November, 2002 and not vested at 1st
January, 2005. Following the adoption of this accounting policy, the
amount of employee share-based expenses of approximately HK$134,000 and
approximately HK$42,000 were charged to the income statements for the
quarter ended 31st March, 2005 and 31st March 2004 respectively.
Employee share-based expense of approximately HK$466,000 was recognised
in the income statement for the year ended 31st December, 2004 as prior
year adjustment.
In accordance with the provisions of HKFRS 3 - Business Combination,
the carrying amount of negative goodwill that arose from a business
combination for which the agreement date was before 1st January, 2005
shall be derecognized by way of a corresponding adjustment to the opening
balance of accumulated losses as at 1st January, 2005. HKFRS 3 has been
applied retrospectively. Accordingly, the carrying amount of negative
goodwill of HK$13,440,000 was credited to the accumulated losses at
1st January, 2004 and 2005.
3. Turnover
Three months ended
31st March
2005 2004
HK$'000 HK$'000
Advertising income 29,464 15,856
Printing income 1,994 -
Publication sales 3 -
Service income - 150
------------------------
31,461 16,006
=========================
4. Profit from operations
Profit from operations has been arrived at after charging:
Three months ended
31st March
2005 2004
HK$'000 HK$'000
(restated)
Depreciation 654 388
Staff costs 5,952 3,471
Operating leases rental
in respect of
Rented premises 545 303
Internet access line 21 21
5. Earnings per share
The calculation of the basic and diluted earnings
per share is based on the following data:
Three months ended
31st March
2005 2004
HK$'000 HK$'000
(restated)
Earnings for
the purposes
of basic and
diluted earnings
per share
for the year 4,841 3,474
=============================
Number of shares ('000)
Weighted average 272,608 151,389
number of ordinary
shares for the
purposes of basic
earnings per share
Effect of dilutive
potential ordinary
shares in respect of
share options granted 2,476 659
-----------------------------
Weighted average
number of ordinary
shares for the
purposes of diluted
earnings
per share 275,084 152,048
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