PROSPERITY INTL<08139> - Results Announcement (Q2, 2006/2007, Summary)
Prosperity International Holdings (H.K.) Limited announced on 14/11/2006:
(stock code: 08139 )
Year end date :31/03/2007
Currency :HKD
Auditors' report :N/A
2nd Quarterly Report Reviewed by :Audit Committee
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
(* Unaudited) (* Unaudited)
Current Last Corresponding
Period Period
from 01/04/2006 from 01/04/2005
to 30/09/2006 to 30/09/2005
$'000 $'000
Turnover : 226,819 47,659
Profit/(Loss) from Operations : 11,243 2,724
Finance cost : (145) (12)
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 : 11,090 (2,753)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.08 HKD (0.034)
Diluted (in dollar) : HKD 0.077 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 11,090 (2,753)
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarter Dividends : N/A
Payable Date : N/A
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
Prosperity International Holdings (H.K.) Limited
Signature :
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 sale 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 of the adoption of HKFRS 5 has resulted in
the reclassification of the comparative information for the six
months ended 30 September 2005 in conforming with current period's
presentation as follows:
For the three months For the six months
ended 30 September ended 30 September
As As
previously As previously As
reported restated reported restated
2005 2005 2005 2005
HK$'000 HK$'000 HK$'000 HK$'000
Continuing operation:
Turnover 52,322 39,218 77,174 47,659
Cost of sales (46,650) (35,414) (70,581) (42,943)
-------- -------- -------- --------
Gross profit 5,672 3,804 6,593 4,716
Other income 15 275 45 294
Selling and distribution
costs (551) - (974) -
Administration expenses (3,183) (1,594) (5,294) (2,286)
Other operating expenses (935) - (935) -
-------- -------- -------- --------
Profit/(Loss) from
operations 1,018 2,485 (565) 2,724
Finance costs (1,009) (8) (1,678) (12)
-------- -------- -------- --------
Profit/(Loss) before
taxation 9 2,477 (2,243) 2,712
Taxation (510) (510) (510) (510)
-------- -------- -------- --------
Profit/(loss) for the period
from continuing operation (501) 1,967 (2,753) 2,202
Discontinued operation:
Loss for the period from
discontinued operation (2,468) (4,955)
-------- -------- -------- --------
Loss for the period (501) (501) (2,753) (2,753)
======== ======== ======== ========
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
three months and six months ended 30 September 2006 of
approximately HK$5,613,000 and HK$11,090,000 respectively (three
months and six months ended 30 September 2005: loss of
approximately HK$501,000 and HK$2,753,000 respectively) and the
weighted average number of ordinary shares of 139,017,106 and
139,207,139 respectively (three months and six months ended
30 September 2005: 81,368,696 and 81,742,295 respectively) in
issue during the three months and six months ended
30 September 2006.
Diluted earnings/(loss) per share
The calculation of diluted earnings per share attributable to
equity holders of the Company is based on the profits and
weighted average number of ordinary shares for the three months
and six months ended 30 September 2006 of 143,974,113 and
144,300,717 respectively (three months and six months ended
30 September 2005: 82,538,242 and 82,911,841 respectively),
being ordinary shares of 139,017,106 and 139,207,139 in issue
during the three months and six months ended 30 September 2006
(three months andsix months ended 30 September 2005: 81,368,696
and 81,742,295 respectively) used in the basic earnings per
share calculation plus the weighted average number of ordinary
shares of 4,957,007 and 5,093,578 respectively (three months and
six months ended 30 September 2005: 1,169,546) 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 three months and six months ended
30 September 2006 of approximately HK$5,613,000 and
HK$11,090,000 and six months ended 30 September 2005: profit of
approximately HK$1,967,000 and HK$2,202,000 respectively) 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 three months and six months ended
30 September 2006 of approximately HK$5,613,000 and
HK$11,090,000 (three months and six months ended
30 September 2005: profit from continuing operation attributable
to equity holders of the Company of approximately HK$1,967,000
and HK$2,202,000 respectively) and the denominator used is the
same as that detailed above for diluted earnings/(loss) per
share.
(c) From discontinued operation
For the three months and six months ended 30 September 2005,
basic loss per share from the discontinued operation are HK0.6
cents and HK3.4 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$2,468,000 and
HK$4,955,000 and the denominators used are the same as those
detailed above for both basic earnings/(loss) per share.
Diluted earnings/(loss) per share amounts for three months and
six months ended 30 September 2005 have not deen disclosed
because the share optionsoutstanding during the respective
period had an anti-dilutive effect on the basic loss per
share.
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