NEW TIMES GROUP<00166> - Results Announcement
New Times Group Holdings Limited announced on 28/12/2004:
(stock code: 00166 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/04/2004 from 01/04/2003
to 30/09/2004 to 30/09/2003
Note ('000 ) ('000 )
Turnover : 2,645 18,845
Profit/(Loss) from Operations : (16,131) (27,677)
Finance cost : (238) (70)
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 : (16,566) (27,747)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.038) (0.068)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (16,566) (27,747)
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. BASIS OF PRESENTATION AND PREPARATION
The condensed consolidated interim financial statements are prepared in
accordance with Hong Kong Statement of Standard Accounting Practice
("SSAP") No. 25 "Interim Financial Reporting" issued by the Hong Kong
Institute of Certified Public Accountants and Appendix 16 of the
Listing Rule of The Stock Exchange of Hong Kong Limited ("Listing Rule").
The accounting policies and basis of preparation used in the preparation
of the unaudited condensed consolidated interim financial statements are
the same as those used in the audited financial statements for the year
ended 31 March 2004.
Certain comparative information has been reclassified to conform to the
current period's presentation.
2. ANALYSIS OF TURNOVER AND LOSS FROM CONTINUING OPERATIONS AND
DISCONTINUED/DISCONTINUING OPERATIONS:
Continuing operations
Property investment financial services
Six months Six months Six months
Six months ended ended ended
ended 30 30 30
30 September September September September
2004 2003 2004 2003
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
$'000 $'000 $'000 $'000
Segment revenue:
Sales and
services to
external
customers 1,970 - 627 -
======== ========= ========= =========
Segment results 1,706 - 627 (98)
======== ========= ========= =========
Discontinued/Discontinuing operations
Corporate finance, Manufacture and
Securities investment distribution of
and investment precision components
advisory services processing equipment
Six months Six months Six months Six months
ended ended ended ended
30 September 30 September 30 September 30 September
2004 2003 2004 2003
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
$'000 $'000 $'000 $'000
Segment revenue:
Sales and
services to
external
customers - 577 - 18,089
======== ========= ========= =========
Segment results - (241) - (1,193)
======== ========= ========= =========
Trading of precision
components processing
equipment Consolidated
Six months Six months Six months Six months
ended ended ended ended
30 September 30 September 30 September 30 September
2004 2003 2004 2003
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
$'000 $'000 $'000 $'000
Segment revenue:
Sales and
services to
external
customers 48 179 2,645 18,845
======== ========= ========= =========
Segment results (244) (2,784) 2,089 (4,316)
======== =========
Unallocated revenue 636 7,706
Unallocated expenses (18,856) (31,067)
---------- ----------
Loss from operating
activities (16,131) (27,677)
Finance costs (238) (70)
----------- ----------
Loss before tax (16,369) (27,747)
Tax (197) -
----------- ----------
Net loss from
ordinary activities
attributable to
shareholders (16,566) (27,747)
============ ==========
3. LOSS BEFORE TAXATION
Loss before taxation is arrived at after charging and crediting the
following:
Six months ended Six months ended
30 September 30 September
2004 (Unaudited) 2003 (Unaudited)
$'000 $'000
After charging -
Depreciation 271 2,338
Amortisation of goodwill 923 -
Staff cost (including
directors' emoluments) 2,659 5,615
Operating lease rentals
for rented premises 869 1,819
========= ==========
After crediting -
Interest income from
- bank deposits 1 22
- other loans 627 -
========= ==========
4. DISCONTINUING OPERATIONS
Pursuant to a board resolution passed on 23 July 2004, the Group ceased
the operation of trading of precision components processing equipment
through abandonment.
5. LOSS PER SHARE
The calculation of basic loss per share was based on the unaudited
consolidated loss attributable to shareholders of $16,566,000 (30
September 2003 - $27,747,000) and 433,302,000 (30 September 2003 -
409,249,000) shares in issue during the period.
Diluted loss earnings per share for the six months ended 30 September 2004
and 2003 have not been calculated because no potential dilutive ordinary
shares existed during such period.
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