NEW TIMES GROUP<00166> - Results Announcement
New Times Group Holdings Limited announced on 28/10/2005:
(stock code: 00166 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2004 from 01/04/2003
to 31/03/2005 to 31/03/2004
Note ('000 ) ('000 )
Turnover : 5,024 23,643
Profit/(Loss) from Operations : (17,348) (36,114)
Finance cost : (464) (788)
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 : (18,270) (37,337)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.04) (0.09)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (18,270) (37,337)
Final Dividend : NIL NIL
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 (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. ADOPTION OF RECENTLY ISSUED HONG KONG FINANCIAL REPORTING
STANDARDS ("HKFRSs")
The Hong Kong Institute of Certified Public Accountants ("HKICPA")
has issued a number of new and revised Hong Kong Financial Reporting
Standards and Hong Kong Accounting Standards, herein collectively referred
to as the new HKFRSs, which are generally effective for accounting periods
beginning on or after 1 January 2005. The Group has not early adopted
these new HKFRSs in the financial statements for the year ended 31 March
2005. The Group has already commenced an assessment of the impact of these
new HKFRSs but is not yet in a position to state whether these new HKFRSs
would have a significant impact on its results of operations and financial
position. These new HKFRSs may result in changes in the future as to how
the results and financial position are prepared and presented.
2. Profit (loss) before taxation included the following items:
Continuing operations Discontinued/discontinuing operations
2005 2004 2005 2004
HK$'000 HK$'000 HK$'000 HK$'000
Impairment of fixed assets
- - - (5,526)
Loss on disposal of short term listed investments, net
(5,415) (20,035) - -
Unrealised loss on short term listed investments
(4,454) (6,076) - -
Amortisation of goodwill
(2,951) - - -
Write-back of provision for legal and professional costs
409 13,000 - -
Write-back of provision for staff bonus
- 3,109 - -
Gain on disposal of discontinued operations
- - - 2,101
--------------------------------------------------------------------
3. Turnover and profits from operations from continuing and
discontinued operations
Continuing operations
---------------------------------
Property
investment Financial services
2005 2004 2005 2004
HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales and services to external customers
4,095 1,587 881 1,232
Intersegment sales
- - - -
Other revenue - - 79 50
-----------------------------------------------------
Total 4,095 1,587 960 1,282
=====================================================
Segment results 3,007 1,382 937 1,093
======================================================
Discontinued/discontinuing
operations
-----------------------------------------------------------------------
Manufacture and
Corporate finance distribution of Trading of
and investment precision components precision components
advisory services processing equipment processing equipment
2005 2004 2005 2004 2005 2004
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales and services to external customers
- 2,236 - 18,089 48 499
Intersegment sales
- 2,466 - - - -
Other revenue
- 100 - 130 1,070 22
-------------------------------------------------------------
Total
- 4,802 - 18,219 1,118 521
================================================================
Segment results
- (533) - (1,198) (486) (11,558)
================================================================
Eliminations Consolidated
2005 2004 2005 2004
HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales and services to external customers
- - 5,024 23,643
Intersegment sales - (2,466) - -
Other revenue - - 1,149 302
-------------------------------------------------------------
Total - (2,466) 6,173 23,945
================================================================
Segment results - (2,466) 3,458 (13,280)
=============================================
Interest income, dividend income
and unallocated gains 1,098 3,709
Unallocated expenses (21,904)(26,543)
------------------
Loss from operating activities (17,348) (36,114)
Finance costs (464) (788)
-------------------
Loss before tax (17,812) (36,902)
Tax (458) (435)
-------------------
Net loss from ordinary activities attributable to shareholders
(18,270) (37,337)
=====================
4. LOSS PER SHARE
The calculation of basic loss per share is based on the net loss
attributable to shareholders for the year of HK$18,270,000 (2004: HK$37,
337,000) and the weighted average number of 433,302,000 (2004: 419,768,
732) ordinary shares in issue during the year.
Diluted loss per share amount for the current and prior years have not
been disclosed as the share options outstanding during both years had no
dilutive effect on the basic loss per share for those years.
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