Listed Company Information
 

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.