ALLTRONICS<00833> - Results Announcement
Alltronics Holdings Limited announced on 19/09/2006:
(stock code: 00833 )
Year end date: 31/12/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2006 from 01/01/2005
to 30/06/2006 to 30/06/2005
Note ('000 ) ('000 )
Turnover : 274,209 164,595
Profit/(Loss) from Operations : 32,523 28,410
Finance cost : (4,267) (1,438)
Share of Profit/(Loss) of
Associates : (188) 356
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 22,741 22,304
% Change over Last Period : +2 %
EPS/(LPS)-Basic (in dollars) : 0.076 0.074
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 22,741 22,304
Interim Dividend : 3.2 cents 2.0 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 17/10/2006 to 19/10/2006 bdi.
Payable Date : 02/11/2006
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 GENERAL INFORMATION
Alltronics Holdings Limited (the "Company") was incorporated in the Cayman
Islands on 24 July 2003 as an exempted company with limited liability
under the Companies Law, Chapter 22 (Law 3 of 1961, as consolidated and
revised) of the Cayman Islands.
The shares of the Company have been listed on the Main Board of The Stock
Exchange of Hong Kong Limited (the "Stock Exchange") since 15 July 2005.
The principal activities of the Group are the manufacturing and trading of
electronic products, plastic moulds, plastic and other components for
electronic products. The principal place of business of the Company is at
Room 1108, 11/F, Eastwood Centre, No. 5 A Kung Ngam Village Road, Shau Kei
Wan, Hong Kong.
The condensed consolidated interim financial information ("Interim
Financial Information") is presented in Hong Kong ("HK") dollars, unless
otherwise stated. The Interim Financial Information has been approved for
issue by the Board of Directors on 19 September 2006.
2 BASIS OF PREPARATION
The unaudited Interim Financial Information has been prepared in
accordance with Hong Kong Accounting Standard ("HKAS") 34, "Interim
Financial Reporting" issued by the Hong Kong Institute of Certified Public
Accountants.
The accounting policies used in the preparation of the Interim Financial
Information is consistent with those of the annual financial statements of
the Company for the year ended 31 December 2005 and the new accounting
policies as set out in Note 3 below. The Interim Financial Information
should be read in conjunction with the annual financial statements for the
year ended 31 December 2005.
3 CHANGES IN ACCOUNTING POLICIES
In 2006, the Group adopted the new and revised HKASs listed below, which
are relevant to its operation.
- HKAS 19 (revised) Actuarial gains and losses, group plans and
disclosures
- HKAS 21 (revised) Net investment in a foreign operation
- HKAS 39 (revised) The fair value option
- HKAS 39 (revised) Cash flow hedge accounting of forecast intragroup
transactions
- HKAS 39 and Financial guarantee contracts
HKFRS 4 (revised)
- HK(IFRIC)-Int 4 Determining whether an arrangement contains a
lease
- HK(IFRIC)-Int 6 Liabilities arising from participating in a
specific market - waste electrical and
electronic equipment
The adoption of these new and revised HKASs by the Group did not have any
significant impact on its results of operations and financial position.
No early adoption of the following new standards or interpretations that
have been issued but are not yet effective. The Group has already
commenced an assessment of the impact of these new standards and
interpretations but is not yet in a position to state whether these new
standards and interpretations would have a significant impact of its
results in operations and financial position.
- HK(IFRIC)-Int 7, Applying the Restatement Approach under IFRS/HKFRS 29
- HK(IFRIC)-Int 8, Scope of IFRS/HKFRS 2
- HK(IFRIC)-Int 9, Reassessment of Embedded Derivatives
- HKFRS 7, Financial instruments: Disclosures
- HKAS 1, Amendments to capital disclosures
4 PROFIT FROM OPERATIONS
Six months ended 30 June
2006 2005
HK$'000 HK$'000
(Unaudited) (Unaudited)
Profit from operations as per this Summary Form 32,523 28,410
Less: Interest income from bank deposits
reclassified to net off with finance costs (1,931) (166)
_________ ________
Operating profit as per results announcement 30,592 28,244
======= ========
5 FINANCE COSTS
Six months ended 30 June
2006 2005
HK$'000 HK$'000
(Unaudited) (Unaudited)
Total finance costs as per this Summary Form 4,267 1,438
Less: Interest income from bank deposits
reclassified from profit from operations (1,931) (166)
_______ _______
Finance costs, net, as per results announcement 2,336 1,272
====== =======
6 INTERIM DIVIDENDS
Six months ended 30 June
2006 2005
HK$'000 HK$'000
(Unaudited) (Unaudited)
Interim dividend proposed of HK$0.032
(2005: HK$0.02) per ordinary share 9,600 6,000
Special interim dividend proposed of HK$ Nil
(2005: HK$0.015) per ordinary share (Note (a)) - 4,500
_______ ________
9,600 10,500
======= ========
Notes:
(a) In recognition of the continued support from the shareholders and
the successful listing of the Company's shares on the Main Board of the
Stock Exchange on 15 July 2005, the Board declared a special interim
dividend of HK$0.015 per ordinary share.
(b) This Interim Financial Information does not reflect the above
proposed dividends as dividend payable but account for them as proposed
dividend from the reserves. The declaration of these dividends has been
approved by the board of directors on 19 September 2006.
7 EARNINGS PER SHARE
Basic
Basic earnings per share is calculated by dividing the profit attributable
to equity holders of the Company by the weighted average number of
ordinary shares in issue during the period. For the six months ended 30
June 2005, the weighted average number of ordinary shares in issue is
deemed to be as if the share capital of the Company outstanding
immediately after the share exchange in connection with the reorganisation
and the related subsequent capitalisation issue, as described in the
prospectus dated 30 June 2005 issued by the Company, had been in existence
throughout the period.
Six months ended 30 June
2006 2005
HK$'000 HK$'000
(Unaudited) (Unaudited)
Profit attributable to equity holders of
the Company 22,741 22,304
______ _______
Weighted average number of ordinary shares
in issue (thousands) 300,000 300,000
______ _______
Basic earnings per share (HK cents per share) 7.6 7.4
======== =======
Diluted
No diluted earnings per share is presented as no diluting event existed
during the period (2005: Nil).
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