RECRUIT<08073> - Results Announcement
Recruit Holdings Limited announced on 11/11/2005:
(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 30/09/2005 to 30/09/2004
Note ('000 ) ('000 )
Turnover 3 : 155,789 72,852
Profit/(Loss) from Operations 4 : 21,570 20,389
Finance cost : (182) 0
Share of Profit/(Loss) of
Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 26,167 20,361
% Change over Last Period : +29 %
EPS/(LPS)-Basic (in dollars) : 0.0958 0.0920
-Diluted (in dollars) : 0.0950 0.0917
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 26,167 20,361
3rd Quarter Dividend : N/A N/A
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
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
In the current period, the Group has applied, for the first time,
a number of new Hong Kong Financial Reporting Standards ("HKFRSs"),
Hong Kong Accounting Standards ("HKASs") and Interpretations
(hereinafter collectively referred to as "new HKFRSs") issued by
the Hong Kong Institute of Certified Public Accountants that are
effective for accounting periods beginning on or after 1st January
2005. The adoption of the new HKFRSs has resulted in changes to the
Group¡¦s accounting policies in the following areas that have an
effect on how the results for the current or prior accounting
periods are prepared and presented.
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$392,000 and approximately HK$259,000 were charged
to the income statements for the period ended 30th September 2005
and 30th September 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$13,440,000 was credited to the
accumulated losses at 1st January 2004 and 2005.
3. Turnover
Nine months ended
30th September
2005 2004
HK$'000 HK$'000
Advertising income 112,088 72,689
Printing income 43,479 -
Publication sales 13 13
Service income 209 150
----------------------------
155,789 72,852
============================
4. Profit from operations
Profit from operations has been arrived at after charging:
Nine months ended
30th September
2005 2004
HK$'000 HK$'000
(Restated)
Depreciation 2,816 1,020
Staff costs 24,060 11,646
Operating leases rental
in respect of
Rented premises 1,831 909
Internet access line 63 70
5. Earnings per share
The calculation of the basic and diluted earnings
per share is based on the following data:
Nine months ended
30th September
2005 2004
HK$'000 HK$'000
(Restated)
Earnings for
the purposes
of basic and
diluted earnings
per share
for the period 26,167 20,361
==========================
Number of shares ('000)
Weighted average 273,178 221,227
number of ordinary
shares for the
purposes of basic
earnings per share
Effect of dilutive
potential ordinary
shares in respect of
share options granted 2,314 918
--------------------------
Weighted average
number of ordinary
shares for the
purposes of diluted
earnings
per share 275,492 222,145
=========================
The group's earnings for the purposes of calculating the earnings
per share for the three months and nine months ended 30th September
2004 was adjusted for the effect of adopting the new accounting
policies as set out in note 2 above.
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