INWORLD GROUP<08100> - Results Announcement
Inworld Group Limited announced on 30/04/2003:
(stock code: 08100 )
Year end date: 30/06/2003
Currency: HKD
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 01/07/2002 from 01/07/2001
to 31/03/2003 to 31/03/2002
Note ('000 ) ('000 )
Turnover : 1,843 3,713
Profit/(Loss) from Operations : (12,591) 706
Finance cost : N/A N/A
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 : (12,219) 716
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0211) 0.0014
-Diluted (in dollars) : (0.0201) N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (12,219) 716
3rd Quarterly Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
3rd Quarterly Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
For and on behalf of
Inworld Group Limited
Name : Ngai Kwok Kin, Kevin
Title : 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. Group reorganisation and basis of presentation
The Company was incorporated in the Cayman Islands 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 Reorganisation involved companies under common control, and the
Group resulting from the Reorganisation is regarded as a continuing
group. Accordingly, the Reorganisation has been accounted for on the
basis of merger accounting, under which the Group's unaudited
consolidated results have been prepared as if the Company had been the
holding company of the Group throughout the respective financial
periods.
These unaudited consolidated results are prepared in accordance with
all applicable Statements of Standard Accounting Practice ("SSAP")
issued by the Hong Kong Society of Accountants and the GEM Listing
Rules as well as accounting principles generally accepted in Hong Kong.
The accounting policies adopted in the preparation of the unaudited
consolidated results are consistent with those used in the 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 consolidation.
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 nine months
ended 31 March 2003 and the corresponding period in 2002.
The Company's overseas subsidiaries are subject to 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 nine
months ended 31 March 2003 and the corresponding period in 2002.
3. (Loss)/earnings per share
The calculation of the Group's basic (loss) / earnings per share for the
nine months ended 31 March 2003 is based on the Group's loss attributable
to shareholders of approximately HK$12,219,000 (loss) (nine months ended
31 March 2002: approximately HK$716,000 (profit)) and the weighted
average number of approximately 578,542,044 shares of the Company for the
nine months ended 31 March 2003 (nine months ended 31 March 2002:
512,934,306 shares) on the assumption that 480,000,000 shares had been in
issue throughout the respective period.
The calculation of the Group's diluted loss per share for the nine months
ended 31 March 2003 is based on the Group's loss attributable to
shareholders of approximately HK$12,219,000 and the weight average number
of ordinary shares used in the calculation was approximately 607,845,758.
There were no diluted potential ordinary shares in issue during the nine
months ended 31 March 2002.
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