MING FUNG JEWEL<00860> - Results Announcement
Ming Fung Jewellery Group Limited announced on 08/06/2005:
(stock code: 00860 )
Year end date: 30/09/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/10/2004 from 01/10/2003
to 31/03/2005 to 31/03/2004
Note ('000 ) ('000 )
Turnover : 200,983 163,255
Profit/(Loss) from Operations : 34,096 27,295
Finance cost : (1,495) (1,094)
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 : 26,909 21,248
% Change over Last Period : +26.64 %
EPS/(LPS)-Basic (in dollars) : 0.041 0.033
-Diluted (in dollars) : 0.038 0.031
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 26,909 21,248
Interim Dividend : 0.30 cent 0.25 cent
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 06/07/2005 to 08/07/2005 bdi.
Payable Date : 20/07/2005
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 preparation of financial statements
The condensed consolidated financial statements for the six months ended
31 March 2005 ("Period") have been prepared in accordance with the
requirements of The Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited ("Listing Rules") and Hong Kong Statement of
Standard Accounting Practice ("SSAP") 25 "Interim Financial Reporting"
issued by the Hong Kong Institute of Certified Public Accountants ("
HKICPA"). These condensed consolidated financial statements are unaudited
but have been reviewed by the Company's audit committee.
These condensed consolidated financial statements have been prepared under
the historical cost convention. The accounting policies and basis of
presentation used in the preparation of these condensed consolidated
financial statements are consistent with those adopted in the preparation
of the Group's audited consolidated financial statements for the year
ended 30 September 2004.
In 2004, the HKICPA has issued a number of new and revised Hong Kong
Accounting Standards and Hong Kong Financial Reporting Standards (
collectively ''new HKFRSs'') which are effective for accounting periods
beginning on or after 1 January 2005. The Group has not early adopted the
new HKFRSs in the preparation of the condensed consolidated financial
statements for the six months ended 31 March 2005.
2. Earnings per share
The calculation of basic earnings per share is based on the Group's
unaudited net profit from ordinary activities attributable to shareholders
for the Period of approximately HK$26,909,000 (2004: HK$21,248,000) and
the weighted average of 650,000,000 (2004: 650,000,000) ordinary shares in
issue during the Period.
The calculation of diluted earnings per share for the period ended 31
March 2005 is based on the Group's unaudited net profit from ordinary
activities attributable to shareholders for the Period of approximately
HK$26,909,000 (2004: HK$21,248,000) and the weighted average number of
699,948,427 (2004: 676,769,302) ordinary shares in issue during the
Period. The weighted average number of ordinary shares used to calculate
the diluted earnings per share comprises the weighted average number of
650,000,000 (2004: 650,000,000) ordinary shares in issue during the Period
and the weighted average number of 49,948,427 (2004: 26,769,302) ordinary
shares deemed to be issued at no consideration on exercise of all
outstanding share options.
3. Dividend
The Board has resolved to declare an interim dividend of HK0.3 cent (2004:
HK0.25 cent) per share payable on 20 July 2005 to shareholders whose names
appear on the register of members of the Company on 8 July 2005.
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