CITIC RESOURCES<01205> - Results Announcement
CITIC Resources Holdings Limited announced on 15/4/2004:
(stock code: 01205 )
Year end date: 31/12/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 31/12/2003 to 31/12/2002
Note ('000 ) ('000 )
Turnover : 24,535 24,003
Profit/(Loss) from Operations : (51,834) (15,217)
Finance cost : (171) N/A
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 : (52,005) (15,217)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0158) (0.0056)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (52,005) (15,217)
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 SSAP 12 (Revised) "Income Taxes"
In the current year, the Group has adopted, for the first time, SSAP 12
(Revised) "Income Taxes", issued by the Hong Kong Society of Accountants,
which is effective for financial statements relating to accounting periods
commencing on or after 1 January 2003.
Under the revised SSAP 12, deferred tax liabilities are provided in full
on all taxable temporary differences while deferred tax assets are
recognised to the extent that it is probable that future taxable profits
will be available against which the deductible temporary differences can
be utilized. Although the new accounting policy has been applied
retrospectively, it has not had any material effect on the financial
results of the Group for the current or prior accounting periods.
Accordingly, no prior period adjustment has been made but certain
comparative figures for 2002 have been restated to conform with the
current year's presentation.
2. LOSS PER SHARE
The calculation of the basic loss per share is based on the consolidated
net loss attributable to shareholders of the Company for the year of
HK$52,005,000 (2002: HK$15,217,000) and the weighted average of
3,296,470,588 (2002: 2,738,162,772) ordinary shares in issue during the
year.
A diluted loss per share amount for the year ended 31 December 2003 has
not been presented because no dilutive events exist during the year.
A diluted loss per share amount for the year ended 31 December 2002 has
not been presented as the effect of the potential ordinary shares arising
from the conversion of the Notes would have been anti-dilutive.
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