XIN CORP<01141> - Results Announcement
Xin Corporation Limited announced on 20/12/2005:
(stock code: 01141 )
Year end date: 31/03/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/04/2005 from 01/04/2004
to 30/09/2005 to 30/09/2004
Note ('000 ) ('000 )
Turnover 2 : 83,888 83,758
Profit/(Loss) from Operations 3 : (93) (6,189)
Finance cost : (2,282) (2,387)
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 : (6,281) (9,504)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.076) (0.169)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (6,281) (9,504)
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. Accounting policies
In the current period, the Group has adopted a number of new and revised
Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards
("new HKFRS") that are effective for accounting periods commencing on or
after 1 January 2005. The adoption of the new HKFRS has resulted in
changes in accounting policies and the presentation of various profit and
loss account and balance sheet items. Last year's comparative figures are
restated to reflect the adoption of new HKFRS during the period. Details
of the changes can be found in the Company's interim results announcement
and interim report.
2. Turnover
Turnover represents the net invoiced value of goods sold, after allowances
for returns and trade discounts.
For the six months ended
30 September
2005 2004
HK$'000 HK$'000
Continuing operations
Supply and procurement business 72,942 65,505
Discontinued operations
Toys business 10,946 18,253
------- --------
83,888 83,758
======= ========
3. Profit/(loss) from operating activities
For the six months ended 30 September 2005
Continuing Discontinued
operations operations Total
HK$'000 HK$'000 HK$'000
Turnover 72,942 10,946 83,888
Cost of sales (64,352) (10,858) (75,210)
----------- ---------- ---------
Gross profit 8,590 88 8,678
Other revenue and gains 609 317 926
Selling and distribution costs (153) (276) (429)
Administrative expenses (8,433) (835) (9,268)
----------- ----------- ----------
PROFIT/(LOSS) FROM OPERATING
ACTIVITIES 613 (706) (93)
=========== =========== ==========
For the six months ended 30 September 2004
Continuing Discontinued
operations operations Total
HK$'000 HK$'000 HK$'000
Turnover 65,505 18,253 83,758
Cost of sales (61,649) (18,885) (80,534)
---------- ---------- ---------
Gross profit 3,856 (632) 3,224
Other revenue and gains 454 182 636
Selling and distribution costs (162) (502) (664)
Administrative expenses (8,436) (949) (9,385)
---------- ----------- ----------
PROFIT/(LOSS) FROM OPERATING
ACTIVITIES (4,288) (1,901) (6,189)
========== =========== ==========
4. Loss per share
The calculation of basic loss per share is based on the unaudited
consolidated loss attributable to equity holders of the parent for the six
months ended 30 September 2005 of HK$6,281,000 (Six months ended 30
September 2004: HK$9,504,000 as restated) and 82,704,014 (Six months ended
30 September 2004: weighted average 56,238,730, restated to reflect the
open offer during the year ended 31 March 2005 and share consolidation
after 31 March 2005) ordinary shares of the Company in issue during the
period.
Diluted loss per share amounts for the six months ended 30 September 2005
and 2004 have not been disclosed as the convertible notes and bonds and
share options outstanding during the period had anti-dilutive effects on
the basic loss per share for both periods.
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