GREAT CHINA<00141> - Results Announcement
Great China Holdings Limited announced on 22/09/2006:
(stock code: 00141 )
Year end date: 31/12/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(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 : 777,623 948,555
Profit/(Loss) from Operations : 21,112 20,005
Finance cost : (4,946) (2,311)
Share of Profit/(Loss) of
Associates : 426 (4,798)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 16,051 11,056
% Change over Last Period : +45.18 %
EPS/(LPS)-Basic (in dollars) : 0.0613 0.0422
-Diluted (in dollars) : 0.0613 0.0422
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 16,051 11,056
Interim Dividend : $0.01 $0.01
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 10/10/2006 to 12/10/2006 bdi.
Payable Date : 26/10/2006
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Earnings per share
Basic
Basic earnings per share is calculated by dividing the profit attributable
to equity holders of the Company by the weighted average number of
ordinary shares in issue during the period.
Unaudited
For the six months ended
30 June 2006 30 June 2005
Profit attributable to equity holders
of the Company (HK$'000) 16,051 11,056
Weighted average number of ordinary
shares in issue (thousands) 261,685 261,685
Basic earnings per share (HK$ per share) 0.0613 0.0422
Diluted
Diluted earnings per share are the same as the basic earnings per share
since the Company has no dilutive potential ordinary share.
2. Change of the Last Corresponding Results
The adoption of Amendment to HKAS 39, Amendment "The fair value option"
has restricted the circumstances in which a financial asset or liability
may be designated as at fair value through profit or loss and has resulted
in a change in accounting policy relating to the recognition of financial
asset at fair value through profit or loss. The change in accounting
policy has been made in accordance with the transitional provisions in the
standards. The date of de-designation of financial asset at fair value
through profit or loss is deemed to be its date of initial recognition,
which is 1 January 2005. At the date of de-designation, the fair value of
the financial asset at fair value through profit or loss was approximately
HK$862,000.
The adoption of Amendment to HKAS 39 resulted in an increase in retained
earnings and a decrease in available-for-sale financial assets revaluation
reserve at 1 January 2005 by approximately HK$2,008,000 and the details of
the adjustments to the income statement for the six months ended 30 June
2006 and 30 June 2005 are as follows:
For the six months ended
30 June 2006 30 June 2005
HK$'000 HK$'000
Decrease in fair value gains on financial assets at
fair value through profit or loss - 222
Increase in basic and diluted earnings per share (HK$)
- 0.00085
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