PHOENIX TV<08002> - Results Announcement
Phoenix Satellite Television Holdings Limited announced on 09/11/2005:
(stock code: 08002 )
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 30/09/2005 to 30/09/2004
Note ('000 ) ('000 )
Turnover 2 : 883,329 836,026
Profit/(Loss) from Operations 3 : 156,241 125,758
Finance cost : 0 (3)
Share of Profit/(Loss) of
Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : (1,305) 0
Profit/(Loss) after Tax & MI : 133,581 119,777
% Change over Last Period : +11.52 %
EPS/(LPS)-Basic (in dollars) : 0.0271 0.0243
-Diluted (in dollars) : 0.0270 0.0242
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 133,581 119,777
3rd Quarter Dividend : 0 0
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
3rd 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
Phoenix Satellite Television Holdings Limited
Name : Yeung Ka Keung
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 AND ACCOUNTING POLICIES
The unaudited condensed consolidated financial information has been
prepared in accordance with Hong Kong Financial Reporting Standards
and Hong Kong Accounting Standard ("new HKFRSs") issued by the Hong
Kong Institute of Certified Public Accountants and applicable
disclosure requirements of the Hong Kong Companies Ordinance and
the Rules Governing the Listing of Securities on the Growth Enterprise
Market of The Stock Exchange of Hong Kong Limited.
The accounting policies and methods of computation used in the
preparation of the unaudited condensed consolidated financial
information are consistent with those used in the annual financial
statements for the year ended 31 December 2004 except that the Group
has changed certain of its accounting policies following its adoption
of new HKFRSs which are effective for accounting periods commencing
on or after 1 January 2005.
The changes to the Group's accounting policies and the effect of
adopting these new HKFRSs are set out in the unaudited condensed
consolidated financial information for the three months ended 31 March
2005 approved for issue by the Board of Directors on 11 May 2005.
The unaudited condensed consolidated financial information has been
prepared in accordance with those HKFRSs and interpretations issued
and effective as at the time of preparing this information.
The unaudited condensed consolidated financial information has been
prepared under the historical cost convention, as modified by
revaluation of financial assets which are classified as financial
assets at fair value through profit or loss.
The preparation of the unaudited condensed consolidated financial
information in conformity with the new HKFRSs requires the use of
certain critical accounting estimates. It also requires management
to exercise its judgement in the process of applying the Group's
accounting policies. The areas involving a higher degree of judgement
or complexity, or areas where assumptions and estimates are significant
to the unaudited condensed consolidated financial information include
provision for doubtful debts, provision for taxation, provision for
asset impairment and fair values of financial assets at fair value
through profit or loss.
2. TURNOVER FROM CONTINUING OPERATIONS AND DISCONTINUED OPERATIONS
01/01/2005 01/01/2004
to to
30/09/2005 30/09/2004 HK$'000 HK$'000
CONTINUING OPERATIONS 883,329 836,026
DISCONTINUED OPERATIONS 0 0
TOTAL 883,329 836,026
3. PROFIT/(LOSS) FROM CONTINUING OPERATIONS AND DISCONTINUED OPERATIONS
01/01/2005 01/01/2004
to to
30/09/2005 30/09/2004 HK$'000 HK$'000
CONTINUING OPERATIONS 156,241 125,758
DISCONTINUED OPERATIONS 0 0
TOTAL 156,241 125,758
4. EARNINGS PER SHARE
The calculation of earnings per share and diluted earnings per share
are based on unaudited consolidated profit attributable to equity of
holders of the Company for the nine months ended 30 September 2005
of approximately HK$133,581,000 (nine months ended 30 September 2004:
HK$119,777,000).
Earnings per share for the nine months ended 30 September 2005 is
based on 4,938,231,000 (nine months ended 30 September 2004:
4,934,469,080) weighted average number of ordinary shares
outstanding during the nine months ended 30 September 2005.
Diluted earnings per share for the nine months ended 30 September
2005 is based on the 4,950,138,000 (nine months ended 30 September
2004: 4,947,209,845) ordinary shares which is the weighted average
number of ordinary shares in issue during the nine months ended 30
September 2005 plus the weighted average number of 11,908,000 (nine
months ended 30 September 2004: 12,740,765) ordinary shares deemed to
be issued at no consideration if all outstanding options had been
exercised.
5. INTERIM DIVIDENDS
The Board does not recommend the payment of an interim dividend for
the nine months ended 30 September 2005 (nine months ended 30 September
2004: nil). Final dividends for the year ended 31 December 2004 of
HK$0.01 per share, totally of approximately HK$49,387,000, was paid
out during the period.
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