FIRST MOBILE<08110> - Results Announcement
First Mobile Group Holdings Limited announced on 11/08/2006:
(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 30/06/2006 to 30/06/2005
Note ('000 ) ('000 )
Turnover : 3,981,087 3,174,806
Profit/(Loss) from Operations : 31,486 4,583
Finance cost : (28,767) (19,985)
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 : (9,715) (22,032)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.005) (0.0113)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (9,715) (22,032)
2nd Quarter Dividend : Nil Nil
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
2nd 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 unaudited condensed consolidated financial
information has been prepared in accordance with
Hong Kong Accounting Standard ("HKAS") 34 "Interim
Financial Reporting" issued by the Hong Kong
Institute of Certified Public Accountants
(the "HKICPA").
This condensed consolidated financial information
should be read in conjunction with the 2005 annual
accounts.
The accounting policies used in the preparation of
this condensed consolidated financial information
are consistent with those used in the annual accounts
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, HKASs and
interpretations (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 Financial Guarantee
HKFRS 4 (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 Periods.
(ii) Taxation on overseas profits has been calculated on the
estimated assessable profits for the Periods at the
rates of taxation prevailing in the countries in
which the Group operates.
3. Earnings per share
Basic loss per share for the three months and the six
months ended 30th June, 2006 are calculated based on
the loss of HK$13,358,000 and HK$9,715,000
attributable to equity holders of the Company
respectively (2005 : profit of HK$3,749,000 and loss
of HK$22,032,000) and on the weighted average of
1,945,696,565 (2005 : 1,945,696,565)shares in issue
during the Periods.
The Company has no dilutive potential shares as at
30th June, 2006 (2005 : None).
4. Dividend
The Directors do not recommend the payment of
an interim dividend for the six months ended
30th June, 2006 (2005 : Nil).
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