FLEXSYSTEM<08050> - Results Announcement FlexSystem Holdings Limited announced on 26/06/2006: (stock code: 08050 ) Year end date: 31/03/2006 Currency: HKD Auditors' Report: Unqualified 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 (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2005 from 01/04/2004 to 31/03/2006 to 31/03/2005 Note ('000 ) ('000 ) Turnover : 71,497 63,826 Profit/(Loss) from Operations : 1,929 (1,780) Finance cost : 0 0 Share of Profit/(Loss) of Associates : 0 0 Share of Profit/(Loss) of Jointly Controlled Entities : 0 (347) Profit/(Loss) after Tax & MI : 2,566 (2,298) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.0043 (0.0038) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 2,566 (2,298) Final Dividend : N/A N/A 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 (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A For and on behalf of FlexSystem Holdings Limited Name : Gary Leung Wai Cheung Title : Cheif Financial Officer 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) Basis of presentation and accounting policies FlexSystem Holdings Limited ("the Company") was incorporated in the Cayman Islands on 8 May, 2000 as an exempted company with limited liability under the Companies Law (2000 Revision) of the Cayman Islands. The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") (which also include Hong Kong Accounting Standards ("HKASs") and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"), accounting principles generally accepted in Hong Kong, the disclosure requirements of the Hong Kong Companies Ordinance and the applicable disclosure provisions of the Rules Governing the Listing of Securities on GEM. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of availabe-for-sale financial assets. The preparation of the financial statements in conformity with HKFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 5 to the financial statements. For the year ended 31 March, 2006, the Group adopted the new/revised HKFRSs, which are relevant to its operations are disclosed in Note 2 to the financial statements. The 2005 comparatives have been amended as required, in accordance with the relevant requirements. (2) Earning/(loss) per share The calculation of the basic earning/(loss) per share is based on the net profit/(loss) of the Group attributable equity holders of the Company of approximately HK$2,566,000 (2005: loss of HK$2,298,000) and the weighted average number of 600,000,000 (2005: 600,000,000) ordinary shares in issue during the year. There were no dilutive pontential ordinary shares in existence for the years ended 31 March, 2005 and 2006. |