INWORLD GROUP<08100> - Results Announcement (Q1, 2002/2003, Summary)
Inworld Group Limited announced on 14/11/2002:
(stock code: 08100)
Year end date :30/06/2003
Currency :HKD
Auditors' report :N/A
Review of 1st Quarterly Report by :Audit Committee
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
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/07/2002 from 01/07/2001
to 30/09/2002 to 30/09/2001
$'000 $'000
Turnover : 1,293 1,325
Profit/(Loss) from Operations : (2,834) (503)
Finance cost : 0 0
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 : (2,737) (503)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0047) (HKD 0.001)
Diluted (in dollar) : (HKD 0.0047) N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (2,737) (503)
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarterly 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
For and on behalf of
Inworld Group Limited
Signature :
Name :Ngai Kwok Kin, Kevin
Title : Chairman
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. Group reorganisation and basis of presentation
The Company was incorporated in the Cayman Island under the Companies
Law as an exempted company with limited liability on 30 July 2001.
Pursuant to a group reorganisation (the "Reorganisation") for the
listing of the Company's shares on GEM, the Company became the holding
company of the Group on 24 September 2001. The shares of the Company
were listed on GEM on 31 December 2001.
The unaudited consolidated results of the Group for the three months
ended 30 September 2002 include the results of the Company and all of
its subsidiaries for the three months ended 30 September 2002.
The unaudited consolidated results of the Group are prepared in
accordance with all applicable Statement of Standard Accounting Practice
issued by the Hong Kong Society of Accountants, accounting principles
generally accepted in Hong Kong. The principal accounting policies
adopted in preparing the unaudited consolidated results are consistent
with those followed in the Group's annual financial statements for the
year ended 30 June 2002.
All significant transactions and balances between companies now
comprising the Group have been eliminated on consolidated.
2. Taxation
No provision for Hong Kong profits tax has been made in the accounts
as the Group had no assessable profits in Hong Kong for the three months
ended 30 September 2002 and the corresponding period in 2001.
The Company's overseas subsidiaries are subject ot the tax laws of those
countries. No provision for overseas profit tax has been made in the
accounts, as the subsidiaries had no assessable profits for the three
months ended 30 September 2002 and the corresponding period in 2001.
3. Loss per share
The calculation of the Group's basic loss per share for the three months
ended 30 September 2002 is based on the Group's loss attributable to
shareholders of approximately HK$2,737,000 (three months ended 30
September 2001: approximately HK$503,000) and the weighted average
number of approximately 578,306,870 for the three months ended 30
September 2002 (three months ended 30 September 2001: 480,000,000)
on assumption that the Reorganisation had been completed on
30 August 1999).
The Calculation of the Group's diluted loss per share for the three
months ended 30 September 2002 is based on the Group's loss attibutable
to shareholders of approximately HK$2,737,000. The weighted average
number of ordinary shares used in the calcualtion was approximately
581,841,493, after adjusting for the number of shares which are deemed
to have been issued for no consideration under the Pre-IPO Share Option
Scheme as adopted by the Company on 14 December 2001.
No diluted loss per share has been presented for the three months ended
30 September 2001, as the Company did not have any dilutive potential
ordinary shares.
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