FIRST MOBILE<08110> - Results Announcement
First Mobile Group Holdings Limited announced on 13/11/2006:
(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 30/09/2006 to 30/09/2005
Note ('000 ) ('000 )
Turnover : 6,018,152 4,865,642
Profit/(Loss) from Operations : 90,249 34,404
Finance cost : (41,837) (30,666)
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 : 15,125 (11,509)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : 0.0078 (0.0059)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 15,125 (11,509)
3rd Quarter Dividend : Nil Nil
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
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 ("HKAS")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 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 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 earnings per share for the three months and the
nine months ended 30th September, 2006 are calculated
based on the profit attributable to equity holders of
the Company of HK$24,840,000 and HK$15,125,000
respectively (2005 : profit of HK$10,523,000 and loss
of HK$11,509,000 respectively) 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 September, 2006 (2005 : None).
4. Dividend
The Directors do not recommend the payment of an interim
dividend for the nine months ended 30th September, 2006
(2005 : Nil).
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