PACMOS TECH<01010> - Results Announcement
PacMOS Technologies Holdings Limited announced on 19/04/2006:
(stock code: 01010 )
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 )
Turnover : 148,687 163,961
Profit/(Loss) from Operations : (21,947) (81,754)
Finance cost : (325) (1,234)
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 : (26,655) (91,388)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0792) (0.2715)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (26,655) (91,388)
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 Annual
General Meeting : To Be Announced
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Basis of preparation and change in accounting policies
The consolidated financial statements have been prepared in accordance
with Hong Kong Financial Reporting Standards ("HKFRSs") issued by the Hong
Kong Institute of Certified Public Accountants ("HKICPA").
In 2005, the Group adopted the new/revised standards and interpretations
of HKFRSs which are effective for the accounting periods commencing on or
after 1st January 2005. There had been no change to the Group's and the
Company's reserves as at 1st January 2005, the loss for the year ended 31
st December 2004 and 2005 on adoption of the new/revised standards .
The HKICPA has issued a number of new standards, amendments and
interpretations to existing standards which are not yet effective for the
current accounting period. The Group has not early adopted these new
standards, amendments and interpretations in 2005.
2. Discontinued operation
The Group disposed of the investment property situated at 18 Lee Chung
Street, Chai Wan, Hong Kong (the" property") to a third party at a total
cash consideration of HK$51,700,000. The completion date for the disposal
of the Property was on 10 March 2005. As such, the operating results of
the investment property holding segment are classified as discontinued
operation. An analysis of the operating results from continuing and
discontinued operations is as follows:
2005
----------------------------------------
Continuing Discontinued Total
----------------------------------------
HK$'000 HK$'000 HK$'000
----------------------------------------
Turnover 147,961 726 148,687
(Loss) / Profit from operations (21,205) (742) (21,947)
(Loss) / Profit after taxation
and minority interests (25,781) (874) (26,655)
2004
----------------------------------------
Continuing Discontinued Total
----------------------------------------
HK$'000 HK$'000 HK$'000
----------------------------------------
Turnover 160,086 3,875 163,961
(Loss) / Profit from operations (85,126) 3,372 (81,754)
(Loss) / Profit after taxation
and minority interests (93,919) 2,531 (91,388)
3. Loss from operations
Loss from operations was arrived at after charging the following major
items:
2005 2004
HK$'000 HK$'000
Amortisation / impairment of goodwill - 4,391
Amortisation / impairment of intangible assets 365 2,637
Depreciation of plant and equipment 2,827 4,323
Fair value losses on financial assets at fair
value through profit or loss / other
investments 17,351 94,333
Research costs 14,759 12,177
Staff costs 20,813 15,784
4. (Loss) / earnings per share
The calculation of basic (loss)/earnings per share for the year ended 31st
December 2005 is based on the consolidated net loss attributable to the
equity holders of the Company of approximately HK$26,655,000 (2004:
HK$91,388,000) and 336,587,142 shares (2004: 336,587,142 shares) in issue
during the year. Details of basic (loss)/earnings per share are analysed
as follows:
2005 2004
HK cents HK cents
Basic (loss)/earnings per share
Continuing operations (7.66) (27.90)
Discontinued operation (0.26) 0.75
--------- ----------
(7.92) (27.15)
========= ==========
As there are no dilutive potential ordinary shares as at 31st December
2005 and 2004, the dilutive (loss)/earnings per share is equal to the
basic (loss)/earnings per share.
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