SuperRobotics Limited — Earnings Release 2004

Sep 27, 2004

GEM

BLU SPA<08176> - Results Announcement (Final, 2003/2004, Summary)

Blu Spa Holdings Limited announced on 24/09/2004:
(stock code: 08176 )

Year end date :30/06/2004
Currency :HKD
Auditors' report :Unqualified

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(Restated)
(Audited) (Audited)
Current Last Corresponding
Period Period
from 01/07/2003 from 01/07/2002
to 30/06/2004 to 30/06/2003
$'000 $'000

Turnover : 2,052 1,818
Profit/(Loss) from Operations : (4,474) (8,878)
Finance cost : (115) (4)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (4,563) (8,914)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0075) (HKD 0.0192)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (4,563) (8,914)
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)

For and on behalf of
Blu Spa Holdings Limited

Signature :
Name : Hui Wing Lok
Title : Company Secretary

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading.The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard to
the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

Remarks:

1. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
   The Company was incorporated in the Cayman Islands on 30 August,
   2001 as an exempted company with limited liability under the
   Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised) of
   the Cayman Islands.

The condensed consolidated results for the year ended 30
June, 2004 have been prepared on a going concern basis.

1. PRINCIPAL ACCOUNTING POLICES
   The principal accounting policies adopted in preparing the audited
   consolidated financial statements are consistent with accounting
   policies used in the preparation of the Group's annual report
   for the year ended 30 June, 2003.

In the current year, the Group has adopted the revised Statement
of Standard Accounting Practice ("SSAP") 12 issued by the the Hong Kong
Institute of Certified Public Accountants, ("HKICPA"). The
principal effect of the implementation of SSAP 12 (Revised) is in
relation to deferred tax. 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 amounts of
assets and liabilities in the financial statements and the corresponding
tax bases used in the computation of taxable profits, with limited
exceptions. In the absence of any specific transitional requirements in
SSAP 12 (Revised), the new accounting policy has been applied
retrospectively. Comparative amounts for 2003 have been restated
accordingly. The balance of accumulated losses at 1 July 2002 has
been increased by HK$32,000, which is the cumulative effect of the
change in policy on the results for periods prior to 2002.
As a result of this change in policy, the loss for the year ended 30
June 2004 has decreased by HK$26,000 (2003: increased by HK$32,000).

1. TURNOVER
   Turnover represents the net amounts received and receivable for goods
   sold, less returns and allowances; the provision of therapy treatment
   services by the Group to outside customers.

2. OTHER REVENUE
   Other Revenue for the year ended 30 June 2004 mainly represents the
   cash discount received from professional fee payment and the waiver
   of the advances received from former distributors which have been treated
   as bad debts in the accounts of previous years. Whilst the other revenue
   for previous year in 2003 represented waiver of loans due to directors.

3. FINANCE COSTS
   The finance cost being the interest expenses payable to sharehoders'
   loans from Profit Trick Holdings Limited and Rocket High Investments
   Limited. The loan is repayable on demand and bear interest at Hong
   Kong Dollar prime lending rate quoted by Hong Kong and
   Shanghai Banking Corporation from time to time.

4. TAXATION
   No provision for Hong Kong Profits Tax has been made for the year
   ended 30 June 2004 and the corresponding year in
   2003, as the Group had no assessable profits for the respective periods.

Resulted from the adoption of the SSAP 12 (Revised), a deferred tax
liability was resulted, which led to a credit to income taxes in the year
of HK$ 26,000 (2003: a debit of HK$ 32,000).

A deferred tax asset has not been recognised in the financial
statements in respect of tax losses available to offset future profits
as it is not certain that the tax losses will be utilised in the
foreseeable future.

1. DIVIDEND
   The directors do not recommend the payment of a dividend for the year
   ended 30 June 2004 (2003: Nil).

2. BASIC LOSS PER SHARE
   The calculation of the basic loss per share for the year ended 30 June
   2004 is based on the respective losses attributable to the shareholders
   of approximately HK$4.6 million (2003: HK$8.9 million); and the
   weighted average number of ordinary shares of 606,800,000
   (2003: 463,378,631) of the Company in issue during the period.

No diluted loss per share for the year ended 30 June 2004
was presented as the Company did not assume the exercise of
share option outstanding because the exercise prices of the Company's
share options were higher than the average market price for shares.