GRANDY ENVIRO<08143> - Results Announcement
Grandy Applied Environmental Technology Corporation announced on 14/08/2003:
(stock code: 08143 )
Year end date: 31/03/2004
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
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
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/04/2003 from 01/04/2002
to 30/06/2003 to 30/06/2002
Note ('000 ) ('000 )
Turnover : 3,989 8,390
Profit/(Loss) from Operations : (5,696) 651
Finance cost : (35) (515)
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 : (5,550) 136
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 2 : (0.00637) 0.00018
-Diluted (in dollars) 2 : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (5,550) 136
1st Quarterly Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
1st Quarterly 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
For and on behalf of
Grandy Applied Environmental Technology Corporation
Name : Kenneth Chan
Title : Director
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. Principal accounting policies
The unaudited consolidated results have been prepared under the
historical cost convention.
The accounting policies adopted are consistent with those followed in
the preparation of the Group's annual financial statements for the year
ended 31 March 2003, except for the adoption of Statements of Standard
Accounting Practice No. 12 (Revised) "Income Taxes" ("SSAP 12") issued
by Hong Kong Society of Accountants which became effective in the
current period.The adoption of the SSAP 12 had no significant impact
on the results for the current and prior periods. Accordingly, no
prior period adjustment
was required.
2. (Loss)/Earnings per share
The calculation of basic loss per share for the three months ended 30
June 2003 is based on the unaudited net loss from ordinary activities
attributable to shareholders of HK$5,550,000 and on the
average number of 871,666,667 ordinary shares in issue during the
period.
The calculation of basic earnings per share for the three months ended
30 June 2002 is based on the unaudited net profit from ordinary
activities attributable to shareholders of HK$136,000 and the weighted
average of 754,835,165 ordinary shares in issue during the period.
No diluted loss per share for the three months ended 30 June 2003 has
been presented as the exercise prices of the Company's share options
were higher than the average market price of the Company's shares during
the period.
The calculation of diluted earnings per share for the three months ended
30 June 2002 is based on the unaudited net profit attributable to
shareholders of HK$136,000 and 782,592,326 ordinary shares, being
754,835,165 ordinary shares as used in the calculation of basic earnings
per share and the weighted average of 27,757,161 ordinary shares assumed
to have been in issue at no consideration on the deemed exercise of the
pre-listing share options.
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