PROSPERITY INTL<08139> - Results Announcement
Prosperity International Holdings (H.K.) Limited announced on 14/08/2006:
(stock code: 08139 )
Year end date: 31/03/2007
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 01/04/2006 from 01/04/2005
to 30/06/2006 to 30/06/2005
Note ('000 ) ('000 )
Turnover : 87,280 8,441
Profit/(Loss) from Operations : 5,499 239
Finance cost : (22) (4)
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 : 5,477 (1,882)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : 0.039 (0.023)
-Diluted (in dollars) : 0.038 (0.023)
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 5,477 (1,882)
1st Quarter Dividend : N/A N/A
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
Prosperity International Holdings (H.K.) Limited
Name : Kong Siu 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
The unaudited consolidated results of the Group have been prepared
in accordance with accounting principles generally accepted in Hong
Kong and applicable disclosures required by the Rules Governing the
Listing of Securities on the Growth Enterprise Market of the Stock
Exchange of the Hong Kong Limited.
The accounting policies used in preparing the unaudited consolidated
results are consistent with those used in the Group's annual
financial statements for the year ended 31 March 2006.
Hong Kong Financial Reporting Standard ("HKFRS") 5 Non-current
Assets Held for Sales and Discontinued Operations specifies the
accounting for assets held for sales, and the presentation and
disclosure of discontinued operations. HKFRS 5 classifies an
operation as discontinued at the date the operation meets the
criteria to be classified as held for sales in accordance with
HKFRS 5 or when the Group has disposed of the operation. HKFRS 5 is
effective for operations that meet the criteria to be classified as
discontinued after 1 April 2005.
The new accounting policy by the adoption of HKFRS 5 has resulted
in the reclassification of the comparative information for the
three months ended 30 June 2005 in conforming with current period's
presentation as follows:
As previously As
reported restated
HK$'000 HK$'000
Continuing operation:
Turnover 24,852 8,441
Cost of sales (23,637) (7,529)
-------- --------
Gross profit 1,215 912
Other income 49 19
Selling and distribution costs (422) -
Administration expenses (2,324) (692)
-------- --------
Profit/(Loss) from operation (1,482) 239
Finance costs (672) (4)
-------- --------
Profit/(Loss) before taxation (2,154) 235
Taxation - -
-------- --------
Profit for the period from continuing operation 235
Discontinued operation:
Loss for the period from discontinued
operation (2,389)
-------- --------
Loss for the period (2,154) (2,154)
======== ========
2.) Earnings/(loss) per share
(a) From continuing and discontinued operations
Basic earnings/(loss) per share
The calculation of basic earnings/(loss) per share attributable
to equity holders of the Company is based on the profit for the
Relevant Period attributable to equity holders of the Company of
approximately HK$5,477,000 (three months ended 30 June 2005:
loss attributable to equity holders of the Company of
approximately HK$1,882,000) and the weighted average number of
ordinary shares of 139,604,974 (three months ended 30 June 2005:
81,360,440, as adjusted to reflect the share consolidation of
every 10 shares of HK$0.01 each into one consolidated share of
HK$0.1 each in July 2005) in issue during the Relevant Period.
Diluted earnings/(loss) per share
The calculation of diluted earnings per share attributable to
equity holders of the Company is based on the profit for the
Relevant Period attributable to equity holders of the Company of
approximately HK$5,477,000 and the weighted average number of
ordinary shares of 144,834,479 (three months ended 30 June 2005:
82,532,731, as adjusted to reflect the share consolidation in
July 2005), being the weighted average number of ordinary shares
of 139,604,974 in issue during the Relevant Period used in the
basic earnings per share calculation plus the weighted average
number of ordinary shares of 5,299,505 (three months ended 30
June 2005: 1,172,291, as adjusted to reflect the share
consolidation in July 2005) assumed to have been issued at no
consideration on the deemed exercise of the share options
outstanding at the balance sheet date.
(b) From continuing operation
Basic earnings per share
The calculation of basic earnings per share from continuing
operation attributable to equity holders of the Company is based
on the profit for the Relevant Period from continuing operation
attributable to equity holders of the Company of approximately
HK$5,477,000 (three months ended 30 June 2005: profit from
continuing operation attributable to equity holders of the
Company of approximately HK$235,000) and the denominator used is
the same as that detailed above for basic earnings/(loss) per
share.
Diluted earnings per share
The calculation of diluted earnings per share from continuing
operation attributable to equity holders of the Company is based
on the profit for the Relevant Period from continuing operation
attributable to equity holders of the Company of approximately
HK$5,477,000 (three months ended 30 June 2005: profit from
continuing operation attributable to equity holders of the
Company of approximately HK$235,000) and the denominator used is
the same as that detailed above for diluted earnings/(loss)
per share.
(c) From discontinued operation
For the first quarter last year, basic loss per share and
diluted loss per share from the discontinued operation are
HK2.6 cents per share respectively, based on the loss for the
period from discontinued operation attributable to the equity
holders of the Company of approximately HK$2,117,000 and the
denominators used are the same as those detailed above for both
basic and diluted earnings/(loss) per share.
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