Comba Telecom Systems Holdings Limited — Earnings Release 2005

Apr 24, 2006

Listed Company Information

Listed Company Information
GFT HOLDINGS<01003> - Results Announcement GFT Holdings Limited announced on 24/04/2006: (stock code: 01003 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 31/12/2005 to 31/12/2004 Note ('000 ) ('000 ) (as restated) Turnover : 179,128 165,291 Profit/(Loss) from Operations : 9,554 (193) Finance cost : (103) (83) 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 : 10,056 (6,169) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.0064 (0.0052) -Diluted (in dollars) : 0.0063 N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 10,056 (6,169) 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. BASIS OF PREPARATION The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and by the Hong Kong Companies Ordinance. 2. APPLICATION OF HONG KONG FINANCIAL REPORTING STANDARDS In the current year, the Group has applied, for the first time, a number of new Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards and Interpretations (collectively referred to as "new HKFRSs") issued by the HKICPA that are effective for accounting periods beginning on or after 1 January 2005. The adoption of the new HKFRSs has resulted in changes to the Group's accounting policies that have effect on the results for the current and prior years as follows: 2005 2004 HK$'000 HK$'000 Non-amortisation of goodwill 627 - Increase in effective interest expense on the liability component of convertible notes (28) (41) _______ _______ Increase in profit (loss) for the year 599 (41) ======= ======= 3. EARNINGS (LOSS) PER SHARE The calculation of the basic and diluted earnings (loss) per share attributable to the equity holders of the Company is based on the following data: Earnings 2005 2004 HK$'000 HK$'000 (As restated) Profit (loss) for the year attributable to equity holders of the Company for the purposes of basic earnings (loss) per share 10,056 (6,169) ======= Effect of dilutive potential ordinary shares: Interest on convertible notes 41 _______ Earnings for the purposes of diluted earnings per share 10,097 ======= Number of shares 2005 2004 Number Number of shares of shares '000 '000 Weighted average number of ordinary shares for the purposes of basic earnings (loss) per share 1,570,184 1,191,019 ========= Effect of dilutive potential ordinary shares in respect of share options 29,212 Effect of dilutive potential ordinary shares in respect of convertible notes 8,356 _________ Weighted average number of ordinary shares for the purposes of diluted earnings per share 1,607,752 ========= No diluted loss per share has been presented for the year ended 31 December 2004 as the exercise of the share options of the Company and the conversion of the Company's outstanding convertible notes would result in a decrease on loss per share.