Suncorp Technologies Limited — Interim / Quarterly Report 2006

Sep 6, 2006

Listed Company Information

Listed Company Information
DVN (HOLDINGS)<00500> - Results Announcement DVN (Holdings) Limited announced on 06/09/2006: (stock code: 00500 ) Year end date: 31/12/2006 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2006 from 01/01/2005 to 30/06/2006 to 30/06/2005 Note ('000 ) ('000 ) Turnover : 652,825 85,537 Profit/(Loss) from Operations : 40,584 (12,480) Finance cost : (51) (50) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : (1) (179) Profit/(Loss) after Tax & MI : 41,196 (12,709) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.065 (0.03) -Diluted (in dollars) : 0.063 N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 41,196 (12,709) 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 Expense by nature Expenses included in cost of sales, marketing, selling, and distribution costs, administrative expenses and other operating expenses are analysed as follows: Unaudited Six months ended 30th June 2006 2005 HK$'000 HK$'000 Cost of inventories sold 515,621 60,034 Cost of provision of financial and consumer data 2,055 1,770 Depreciation Owned property, plant and equipment 5,080 5,535 Leased property, plant and equipment 22 22 Employee benefit expense (Note 4) 24,720 15,545 Net exchange loss 19 9 Other operating expenses including: Amortisation of deferred development costs 2,405 2,164 Inventory write-down 13,488 1,500 Trade receivable write off 12,433 - Reversal of provisions for impairment loss of trade receivables (3,103) - Net gain on disposal of property, plant and equipment (195) - ====== ====== 2 Income tax expense Unaudited Six months ended 30th June 2006 2005 HK$'000 HK$'000 Current income tax Hong Kong profits tax - - Overseas taxation 337 - Deferred income tax (995) ----- ------ (658) - ====== ====== Hong Kong profits tax is calculated at 17.5% (2005: 17.5%) on the estimated assessable profit for the period. Income tax arising in other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions. 3 Preference dividends Unaudited Six months ended 30th June 2006 2005 HK$'000 HK$'000 DVN (Group) Limited, a wholly-owned subsidiary of the Company Dividends on 5% exchangeable preference shares 2,906 2,906 ====== ====== 4 Earning/(loss) per share Basic earning/(loss) per share is calculated by dividing the profit/(loss) attributable to equity holders of the Company by weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. Unaudited Six months ended 30th June 2006 2005 HK$'000 HK$'000 Weighted average number of ordinary shares in issue (thousand shares) 588,341 580,755 ====== ====== HK$'000 HK$'000 Profit/(loss) attributable to equity holders of the Company 38,290 (15,615) ====== ====== HK$ HK$ Basic 0.065 (0.027) ====== ====== HK$ HK$ Diluted 0.063 N/A ====== ====== 5 Analysis of profit /(loss) from continuing operations and discontinued operations Unaudited Six months ended 30th June 2006 2005 HK$'000 HK$'000 Operating profit/(loss) 40,584 (12,480) Finance costs (51) (50) Share of loss of a jointly controlled entity (1) (179) ----- ------ Profit/(loss) before income tax 40,532 (12,709) Income tax credit 658 - ----- ------ Profit/(loss) for the period from continuing operations 41,190 (12,709) Discontinued operations Profit for the period from discontinued operations 6 - ----- ------ Profit/(loss) for the period 41,196 (12,709) ====== ====== 6 Dividends The directors do not recommend the payment of a dividend for the six months ended 30th June 2006 (2005: Nil). 7 Comparative figures Due to the adoption of new Hong Kong Accounting Standards, certain comparative figures have been restated to conform with the current period's classification and presentations.