ASIA ALLIANCE<00616> - Results Announcement
Asia Alliance Holdings Limited announced on 29/11/2004:
(stock code: 00616 )
Year end date: 31/3/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/4/2004 from 1/4/2003
to 30/9/2004 to 30/9/2003
Note ('000 ) ('000 )
Turnover 3 : 21,981 1,922
Profit/(Loss) from Operations 3 : (2,678) (16,555)
Finance cost : (138) (1,023)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A (75)
Profit/(Loss) after Tax & MI 5 : 6,226 (17,653)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 4 : 0.02 (0.59)
-Diluted (in dollars) 4 : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 6,226 (17,653)
Interim Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim 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
Remarks:
1. GENERAL AND BASIS OF PREPARATION
The condensed financial statements have been prepared in accordance with
the applicable disclosure requirements of Appendix 16 to the Rules
Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited (the "Stock Exchange") and with Statement of Standard Accounting
Practice ("SSAP") No. 25 "Interim Financial Reporting" issued by the Hong
Kong Institute of Certified Public Accountants ("HKICPA").
On 1 September 2003, the board of directors of the Company
resolved to change the financial year-end date of the Company from 31
December to 31 March to align the financial year-end date with that of
Easyknit International Holdings Limited. The condensed financial
statements for the current period therefore cover the six month period
from 1 April 2004 to 30 September 2004.
2. PRINCIPAL ACCOUNTING POLICIES
The condensed financial statements have been prepared under the historical
cost convention.
The principal accounting policies adopted are consistent with those
followed in the preparation of the Group's annual financial statements for
the fifteen months ended 31 March 2004.
3. SEGMENT INFORMATION
The Group's primary format for reporting segment information is business
segments. During the period, the Group acquired a new business of
bleaching and dyeing upon the acquisition of subsidiaries and established
a new business of knitting. An analysis of the Group's turnover and
result by business segments is as follows:
Segment
Turnover result Consolidated
-------- --------- --------------
HK$'000 HK$'000 HK$'000
For the six months
ended 30 September 2004
------------------------
Bleaching and dyeing 20,892 1,176
Knitting 1,089 (2,169)
Wireless communication business
- 70
Communication solutions consultancy services
- (11)
---------------------
21,981 (934)
======================
Segment result (934)
Interest income 3
Unallocated corporate expenses (1,747)
--------
Loss from operations (2,678)
========
Segment
Turnover result Consolidated
-------- --------- --------------
HK$'000 HK$'000 HK$'000
For the six months
ended 30 September 2003
------------------------
Wireless communication business
967 (7,622)
Communication solutions consultancy services
955 (1,545)
Internet operations - (153)
-------- ---------
1,922 (9,320)
======= ========
Segment result (9,320)
Interest income 48
Unallocated corporate expenses (7,283)
---------
Loss from operations (16,555)
=========
4. BASIC EARNINGS (LOSS) PER SHARE
The calculation of the basic earnings (loss) per share is based on the net
profit for the period of HK$6,226,000 (six months ended 30 September 2003:
net loss of HK$17,653,000) and on 357,006,840 shares (six months ended 30
September 2003: weighted average number of 29,700,520 shares) in issue
during the period.
The denominator for the purposes of calculating basic loss per share for
the six months ended 30 September 2003 has been adjusted to reflect the
consolidation of shares on the basis that forty shares were consolidated
into one share and the rights issue of shares in September 2003.
No diluted earnings per share has been presented for the six
months ended 30 September 2004 as the exercise prices of the Company's
outstanding share options were higher than the average market price for
the period.
No diluted loss per share has been presented for the six months
ended 30 September 2003 as the exercise of the Company's outstanding share
options would reduce the loss per share for that period.
5. PROFIT / (LOSS) AFTER TAXATION & MI including the following:
1.4.2004 1.4.2003
to to
30.9.2004 30.9.2003
HK$'000 HK$'000
Gain on disposal of subsidiaries 9,042 -
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