GRANDY ENVIRO<08143> - Results Announcement
Grandy Applied Environmental Technology Corporation announced on 13/11/2003:
(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 30/09/2003 to 30/09/2002
Note ('000 ) ('000 )
Turnover : 9,832 21,307
Profit/(Loss) from Operations : (17,130) 824
Finance cost : (70) (502)
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 : (16,783) 322
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 3 : (0.0193) 0.0004
-Diluted (in dollars) 3 : N/A 0.0004
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (16,783) 322
2nd Quarterly Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
2nd 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 : 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
The condensed consolidated financial statements have been prepared in
accordance with the applicable disclosure requirements of Chapter 18 of
the Rules Governing the Listing of Securities on the Growth Enterprise
Market of The Stock Exchange of Hong Kong Limited (the "Stock Exchange")
and the Statement of Standard Accounting Practice ("SSAP") No. 25
"Interim financial reporting" issued by the Hong Kong Society of
Accountants ("HKSA").
2. PRINCIPAL ACCOUNTING POLICIES
The condensed financial statements 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 SSAP 12 (Revised)
"Income Taxes" issued by the HKSA which became effective in the current
period. The adoption of SSAP 12 has had no significant impact on the
results for the current or prior periods. Accordingly, no prior period
adjustment was required.
3. (LOSS) EARNINGS PER SHARE
The calculation of the basic (loss) earnings per share for the three
months ended 30 September 2003 is based on the net loss for the period
of approximately HK$11,233,000 (2002: net profit of HK$186,000) and the
weighted average number of 871,666,667 (2002: 830,000,000) shares in
issue during the period.
The calculation of the basic (loss) earnings per share for the six
months ended 30 September 2003 is based on the net loss for the period
of approximately HK$16,783,000 (2002: net profit of HK$322,000) and the
weighted average number of 871,666,667 (2002: 792,623,000) shares in
issue during the period.
The calculation of the diluted earnings per share for the six months
ended 30 September 2002 is based on the net profit for the period of
approximately HK$322,000 and 803,790,000 shares, being 792,623,000
shares used in the calculation of basic earnings per share and the
weighted average of 11,167,000 shares assumed to have been in issue at
no consideration on the deemed exercise of the pre-listing share
options.
No diluted (loss) earnings per share has been presented for the
three months ended 30 September 2002 and three months and six months
ended 30 September 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 period.
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