MIRABELL INT'L<01179> - Results Announcement
Mirabell International Holdings Limited announced on 26/06/2006:
(stock code: 01179 )
Year end date: 28/02/2006
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/03/2005 from 01/03/2004
to 28/02/2006 to 28/02/2005
Note ('000 ) ('000 )
Turnover : 866,238 747,839
Profit/(Loss) from Operations : 54,496 65,068
Finance cost : (2,321) (1,221)
Share of Profit/(Loss) of
Associates : 19,713 20,157
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 65,497 76,139
% Change over Last Period : -13.98 %
EPS/(LPS)-Basic (in dollars) : 0.257 0.299
-Diluted (in dollars) : 0.257 0.299
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 65,497 76,139
Final Dividend : 5.5 cents 6.6 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 25/07/2006 to 28/07/2006 bdi.
Payable Date : 04/08/2006
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1) Basis of preparation and accounting policies
The principal accounting policies applied in the
preparation of the consolidated financial statements
have been consistently applied to all the years presented,
unless otherwise stated.
The consolidated financial statements of the Company have
been prepared in accordance with Hong Kong Financial
Reporting Standards ("HKFRS"). The consolidated financial
statements have been prepared under the historical cost
convention, as modified by the revaluation of financial assets
and financial liabilities (including derivative financial
instruments) at fair value through profit and loss and
investments properties, which are carried at fair value.
During the year ended 28 February 2006, the Group adopted
new/revised standards and interpretations of HKFRS which
are relevant to its operations. The 2004/2005 comparatives
have been restated as required, in accordance with the
relevant requirements.
Apart from the adoption of new HKFRS, the Group has adopted
the cost model of HKAS 16 for buildings other than investment
properties. Buildings are carried at cost less accumulated
depreciation and accumulated impairment. In prior years,
they were stated at valuation. The Company believes that the
change in accounting policy has resulted in a more appropriate
presentation of the buildings of the Group. The new
accounting policy has been adopted retrospectively.
The Group has not early adopted the new standards or
interpretations that have been issued and not yet effective,
which are relevant to the operations of the Group. It is
expected that the adoption of such standards or interpretations
will not result in substantial changes to the Group's
accounting policies.
2) Basic and diluted earnings per share
The calculation of basic and diluted earnings per share is
based on the Group's profit attributable to equity holders
of HK$65,497,000 (2005: HK$76,139,000(restated)) and the
weighted average number of 254,530,000 (2005: 254,530,000)
ordinary shares in issue during the year.
The Company has no dilutive potential ordinary share.
3) Events after the balance sheet date
On 3 April 2006, share options with rights to subscribe
for a total of 21,520,000 shares of the Company at a
subscription price of HK$2.875 per share were granted to
certain directors and employees of the Group. All of the
options granted have vesting periods of one to four years
and shall expire on 2 April 2012 or 2 April 2014.
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