FIRST MOBILE<08110> - Results Announcement First Mobile Group Holdings Limited announced on 12/05/2006: (stock code: 08110 ) Year end date: 31/12/2006 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 01/01/2006 from 01/01/2005 to 31/03/2006 to 31/03/2005 Note ('000 ) ('000 ) Turnover : 2,048,533 1,538,621 Profit/(Loss) from Operations : 20,793 (18,443) Finance cost : (13,817) (8,276) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 3,643 (25,781) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.002 (0.0133) -Diluted (in dollars) : 0.002 (0.0133) Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 3,643 (25,781) 1st Quarter Dividend : Nil Nil 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 First Mobile Group Holdings Limited Name : Dyland Mah 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 consolidated profit and loss account is extracted from the unaudited consolidated accounts of the Company which have been prepared in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA"). They have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial asset, financial assets at fair value through profit or loss and derivative financial instruments. The accounting policies used in the accounts are consistent with those used in the annual report for the year ended 31st December, 2005 except for the adoption of some new and revised standards stated below. The HKICPA has issued a number of new and revised Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards and interpretations issued by HKICPA (collectively "HKFRSs") which are effective for accounting periods beginning on or after 1st January, 2006. The Group has adopted all HKFRSs which are pertinent to its operations in the accounts for the year ending 31st December, 2006. The applicable HKFRSs are set out below: HKAS 39 (Amendment) The Fair Value Option HKAS 39 and HKFRS 4 Financial Guarantee (Amendment) Contracts HKFRS Int 4 Determining whether an Arrangement contains a Lease All new and revised standards adopted by the Group require retrospective application other than those specifically allowed under the transitional provisions in the relevant standards. (a) HKAS 39 (Amendment) The Fair Value Option This amendment changes the definition of financial instruments classified as fair value through profit or loss and restricts the ability to designate financial instruments as part of this category. This amendment does not have any financial impact as the Group's accounting policies already comply with the amendment. (b) HKAS 39 and HKFRS 4 (Amendment) Financial Guarantee Contracts This amendment regulates issued financial guarantees, other than those previously assorted by the entity to be insurance contracts to be initially recognised at their fair value, and subsequently measured at the higher of (i) the unamortised balance of the related fees received and referred and (ii) the expenditure required to settle the commitment at the balance sheet date. This amendment does not have any financial impact to the Group's financial results. (c) HKFRS Int 4 Determining whether an Arrangement contains a Lease HKFRS Int 4 requires the determination of whether an arrangement is or contains a lease to be based on the substance of the arrangement. It requires an assessment of whether: (i) fulfillment of the arrangement is dependent on the use of a specific asset or assets (the "asset"); and (ii) the arrangement conveys a right to use the asset. This interpretation does not have any financial impact to the Group's financial results. 2. Taxation (i) Hong Kong profits tax has been provided at the rate of 17.5% (2005 : 17.5%) on the estimated assessable profits for the Period. (ii) Taxation on overseas profits has been calculated on the estimated assessable profits for the Period at the rates of taxation prevailing in the countries in which the Group operates. 3. Earnings per share Basic earnings per share for the Period is calculated based on the profit attributable to equity holders of the Company of HK$3,643,000 (2005 : loss of HK$25,781,000) and on the weighted average of 1,945,696,565 (2005 : 1,945,696,565) shares in issue during the Period. The Company has no dilutive potential shares as at 31st March, 2006 (2005 : None). 4. Dividend The Directors do not recommend the payment of an interim dividend for the Period (2005 : Nil). |