G. A. HOLDINGS<08126> - Results Announcement
G.A. Holdings Limited announced on 12/08/2003:
(stock code: 08126 )
Year end date: 31/12/2003
Currency: SGD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
Important Note:
This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2003 from 01/01/2002
to 30/06/2003 to 30/06/2002
Note ('000 ) ('000 )
Turnover : 58,349 41,182
Profit/(Loss) from Operations : 2,802 3,858
Finance cost : (724) (1,062)
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 : 1,657 2,284
% Change over Last Period : -27.5 %
EPS/(LPS)-Basic (in dollars) : 0.0041 0.007
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 1,657 2,284
2nd Quarterly Dividend : 0 0
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
2nd Quarterly Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : 0
Current Period
B/C Dates for Other
Distribution : N/A
For and on behalf of
G.A. Holdings Limited
Name : Loh Kim Her
Title : Managing Director
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
whatsever 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 PRESENTATION
These unaudited condensed consolidated financial statements
have been prepared in accordance with Statement of Standard
Accounting Practice 25 "Interim financial reporting"
("SSAP 25") issued by the Hong Kong Society of Accountants
and the Rules Governing the Listing of Securities on the
GEM of the Stock Exchange (the "GEM Listing Rules"). These
condensed consolidated financial statements have not been
audited, but have been reviewed by the Company's audit
committee.
2. ACCOUNTING POLICY
The accounting policies adopted for the preparation of these
unaudited consolidated financial statements are consistent
with those adopted by the Group in the annual audited
financial statements for the year ended 31 December 2002,
except that the Group has changed its accounting policy
following its adoption of SSAP 12 (revised) "Income taxes".
The changes to the Group's accounting policy is as follows:
Deferred taxation is provided using the liability method, on
all temporary differences arising between the tax bases of
assets and liabilities and their carrying amounts in the
financial statements. The principal temporary differences arise
from depreciation on fixed assets, revaluations of certain
non-current assets, provision for pensions, tax losses carried
forward; and, in relation to acquisitions, on the difference
between the fair values of the net assets acquired and their
tax base. Taxation rates enacted or substantively enacted by
the balance sheet date are used to determine deferred taxation.
Deferred tax liabilities are provided in full on all taxable
temporary differences while deferred tax assets are recognised
to the extent that it is probable that future taxable profit
will be available against which the temporary differences can
be utilised.
Before the adoption of revised SSAP 12, deferred taxation was
accounted for at the current taxation rate in respect of timing
differences between profit as computed for taxation purposes
and profit as stated in the financial statements to the extent
that a liability or an asset was expected to be payable or
recoverable in the foreseeable future.
3. EARNINGS PER SHARE
The calculation of basic earnings per share for the three months
ended 30 June 2003 was based on the unaudited consolidated
profit attributable to shareholders of approximately S$592,000
and on the 400,000,000 ordinary shares in issue during the three
months ended 30 June 2003.
The calculation of basic earnings per share for the three months
ended 30 June 2002 was based on the unaudited consolidated
profit attributable to shareholders of approximately S$1,906,000
and on the weighted average number of 331,428,571 ordinary shares
in issue during the three months ended 30 June 2002.
Diluted earnings per share was not presented as there were no
dilutive potential ordinary shares in existence during the three
months ended 30 June 2003 and 2002.
The calculation of basic earnings per share for the six months
ended 30 June 2003 was based on the unaudited consolidated
profit attributable to shareholders of approximately S$1,657,000
and on the 400,000,000 ordinary shares in issue during the six
months ended 30 June 2003.
The calculation of basic earnings per share for the six months
ended 30 June 2002 was based on the unaudited consolidated
profit attributable to shareholders of approximately S$2,284,000
and on the weighted average number of 325,745,856 ordinary shares
in issue during the six months ended 30 June 2002.
Diluted earnings per share was not presented as there were no
dilutive potential ordinary shares in existence during the six
months ended 30 June 2003 and 2002.
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