JF FURNISHINGS<08310> - Results Announcement (Final, 2005, Summary)
JF Household Furnishings Limited announced on 22/03/2006:
(stock code: 08310 )
Year end date :31/12/2005
Currency :HKD
Auditors' report :Unqualified
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
(* Audited) (* Audited)
Current Last Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 31/12/2005 to 31/12/2004
HK$ HK$
Turnover : 199,625,181 145,431,977
Profit/(Loss) from Operations : 29,232,725 23,156,001
Finance cost : (1,247,915) (1,199,672)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 23,659,231 18,876,904
% Change Over the Last Period : +25.33%
EPS / (LPS)
Basic (in dollar) : HKD 0.14 HKD 0.11
Diluted (in dollar) : HKD 0.14 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 23,659,231 18,876,904
Final Dividends per Share : HK$0.056 NIL
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : 26/05/2006 to 30/05/2006 bdi.
Payable Date : 16/06/2006
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
JF Household Furnishings Limited
Signature :
Name : Cheung Wai Tak
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:
Basis of preparation
The financial statements have been prepared in accordance with all
applicable Hong Kong Financial Reporting Standards, which include
collective term includes all applicable individual Hong Kong Financial
Reporting Standards, Hong Kong Accounting Standards and
Interpretations issued by the HKICPA, accounting principles generally
accepted for Hong Kong and the disclosure requirements of the Hong
Kong Companies Ordinance. The financial statements have been prepared
under the historical cost convention.
The HKICPA has issued a number of new and revised Hong Kong Financial
Reporting Standards and Hong Kong Accounting Standards (hereinafter
collectively referred to as the "new HKFRSs") which are generally
effective or available for early adoption for accounting periods
beginning on or after 1 January 2005. The Group has adopted these
currently in issue new HKFRSs in the preparation of the financial
statements for the year ended 31 December 2005.
The preparation of financial statements in conformity with 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 Group has not applied the following new and revised Hong Kong
Financial Reporting Standards ("new and revised HKFRSs") applicable to
these financial statements, that have been issued but are not yet
effective, to these financial statements. Unless otherwise stated,
these new and revised HKFRSs are effective for annual periods
beginning on or after 1 January 2006:
HKAS 1 (Amendment) Capital Disclosures
HKAS 21 (Amendment) The Effects of Changes in Foreign Exchange Rates
HKAS 39 (Amendment) Cash Flow Hedge Accounting of Forecast Intragroup
Transactions
HKAS 39 (Amendment) The Fair Value Option
HKAS 39 and Financial Guarantee Contracts
HKFRS 4 (Amendments)
HKFRS 7 Financial Instruments: Disclosures
HK(IFRIC) - Int 4 Determining whether an Arrangement contains a Lease
The Company has already commenced an assessment of these new and
revised HKFRSs but is not yet in a position to state whether these new
and revised HKFRSs would have a significant impact on its result of
operations and financial position.
The calculation of basic earnings per share for the year ended 31
December 2005 is based on the net profit attributable to equity
shareholders of HK$2,365,923 and on the 168,000,000 shares of the
Company in issue after the Company listing on the GEM on 13 October
2005 if those shares had been in issue for the year.
Earnings Per Share
The calculation of basic earnings per share for the year ended 31
December 2004 is based on the net profit attributable to equity
shareholders of HK$18,876,904 and on the 168,000,000 shares of the
Company in issue after Corporate Reorganisation and capitalisation
issue as if those shares had been in issue for the year.
The calculation of diluted earnings per share for the year ended 31
December 2005 is based on the net profit attributable to equity
shareholders of HK$23,659,231 and the weighted average number of
168,635,178 ordinary shares in issue during the year. Accordingly,
the effect of dilutive potential ordinary shares relating to the share
option is 635,178.
The diluted earnings per share amount for the year ended 31 December
2004 has not been shown as there were no dilutive potential ordinary
shares existed during the year.
Dividend
The Board has resolved to recommend a final dividend of HK$0.056 per
ordinary share for the year ended 31 December 2005. Upon approval by
the shareholders, the final dividend will be paid on or about 16 June
2006 to shareholders whose names appear on the register of members of
the Company 30 May 2006.
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