GRANDY ENVIRO<08143> - Results Announcement
Grandy Applied Environmental Technology Corporation announced on 20/06/2003:
(stock code: 08143 )
Year end date: 31/03/2003
Currency: HKD
Auditors' Report: Unqualified
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
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2002 from 01/04/2001
to 31/03/2003 to 31/03/2002
Note ($ ) ($ )
Turnover : 28,318,430 26,321,680
Profit/(Loss) from Operations : (11,217,492) 5,398,894
Finance cost : (476,675) (2,954,462)
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 : (11,374,780) 2,407,432
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 2 : (0.0138) 0.0038
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (11,374,780) 2,407,432
Final Dividend 3 : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual
General Meeting : 21/07/2003 to 25/07/2003bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
For and on behalf of
Grandy Applied Environmental Technology Corporation
Name : Wilfred Wong
Title : Financial Controller
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
whatsever 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
These results have been prepared in accordance with Statements
of Standard Accounting Practice ("SSAP") issued by the Hong Kong Society
of Accountants, accounting principles generally accepted in Hong Kong
and the disclosure requirements of the Companies Ordinance of Hong Kong.
They have been prepared under the historical cost convention.
In the current year, the Group has adopted for the first time
the following new or revised SSAPs issued by the Hong Kong
Society of Accountants:
SSAP 1 (Revised) Presentation of financial statements
SSAP 11 (Revised) Foreign currency translation
SSAP 15 (Revised) Cash flow statements
SSAP 34 Employee benefits
The adoption of these new or revised SSAPs has resulted in the
introduction of the statement of changes in equity and a change in the
format of presentation of the cash flow statement as well as additional
disclosures. These changes have not had any significant impact on the
results for the current or prior periods. Accordingly, no prior period
adjustment was required.
2. (Loss) earning per share
The calculation of the basic (loss) earnings per share is based
on the net loss for the year of HK$11,374,780 (2002: net profit of
HK$2,407,432) and the weighted average number of 822,269,406 shares in
issue during the year (2002: 640,000,000 shares on the assumption that
the 2001 group reorganisation and bonus issue of shares upon listing
have been effective on 1 April 2001).
No diluted loss per share has been presented in 2003 as the
exercise price of the Company's share options was higher than the
average market price of the Company's shares during the year.
No diluted earnings per share was presented in 2002 as the
conversion of convertible notes which were issued in August 2001 had
anti-dilutive effect for that year.
3. Dividend
No dividends had been paid or declared by the Company for the
year ended 31 March 2003 (2002: Nil).
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