Apollo Future Mobility Group Limited — Interim / Quarterly Report 2004

Jun 25, 2004

Listed Company Information

Listed Company Information
MING FUNG JEWEL<00860> - Results Announcement Ming Fung Jewellery Group Limited announced on 25/6/2004: (stock code: 00860 ) Year end date: 30/9/2004 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/10/2003 from 1/10/2002 to 31/3/2004 to 31/3/2003 Note ('000 ) ('000 ) Turnover : 163,255 149,751 Profit/(Loss) from Operations : 27,295 22,201 Finance cost : (1,094) (472) 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 : 21,248 18,095 % Change over Last Period : +17.42 % EPS/(LPS)-Basic (in dollars) : 0.033 0.028 -Diluted (in dollars) : 0.031 N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 21,248 18,095 Interim Dividend : 0.25 cent NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 13/7/2004 to 15/7/2004 bdi. Payable Date : 28/7/2004 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 These condensed consolidated financial statements are unaudited and 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 Statement of Standard Accounting Practice ("SSAP") 25 "Interim Financial Reporting" issued by the Hong Kong Society of Accountants. These condensed consolidated financial statements have been prepared under the historical cost convention. The accounting policies and basis of presentation adopted 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 2003, except for the adoption of the following new and revised SSAP, which is effective for the first time in the preparation of the condensed consolidated financial statements for the Period. Its major effects on the Group's accounting policies and on the amounts disclosed in these condensed consolidated financial statements are summarized as follows: During the Period, the Group has adopted SSAP 12 (Revised) "Income Taxes". The principal effect of the implementation of SSAP 12 (Revised) is in relation to deferred taxation. SSAP 12 (Revised) requires the adoption of a balance sheet liability method, whereby deferred tax is recognized in respect of all temporary differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, with limited exceptions. Prior to the Period, deferred taxation was provided using the liability method in respect of taxation effect arising from all material timing differences between the accounting and tax treatment of income and expenditure, which were expected with reasonable probability to crystallize in the foreseeable future. Prior to the Period, a deferred tax asset was not recognized until its realization was assured beyond reasonable doubt. In the absence of any specific transitional requirements in SSAP 12 (Revised), the new accounting policy has been applied retrospectively. However, SSAP 12 (Revised) had no major impact on these condensed consolidated financial statements. 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$21,248,000 (2003: HK$18,095,000) and the weighted average of 650,000,000 (2003: 650,000,000) ordinary shares in issue during the Period. The calculation of diluted earnings per share for the period ended 31 March 2004 is based on the Group's unaudited net profit from ordinary activities attributable to shareholders for the Period of approximately HK$21,248,000 and the weighted average number of 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 ordinary shares in issue during the Period and the weighted average number of 26,764,302 ordinary shares deemed to be issued at no consideration on exercise of all outstanding share option. There were no potential dilutive ordinary shares in existence for the six months ended 31 March 2003 and accordingly, no diluted earnings per share amount has been presented for the period. 3 Dividend The Board has resolved to declare an interim dividend of HK0.25 cents per share (2003:Nil) payable on 28 July 2004 to shareholders whose names appear on the register of members of the Company on 15 July 2004.