RNS Number : 6557D
  China Shoto plc
  17 September 2008
   
    The following amendment has been made to the Interim Results announcement released today at 07:00 under RNS No 4753D.
    The Balance Sheet has been reformatted. All other details remain unchanged. The full amended text is shown below.

    REPLACEMENT TEXT

    China Shoto plc

    ("China Shoto" or the "Group")

    Interim results for the six months ended 30th June 2008 


    Highlights
 *                       Turnover up 81% to �68.6million (H1 2007: �38.0million)

 *            Profit for the period up 29% to �3.9million (H1 2007: �3.0million)

 *  Foreign sales revenue increased to � 11.7million (H1 2007: �0.5million)
 *  Basic earnings per share from continuing operations up 44% to 16.3p(H1 2007:
                                                                         11.4p) 

 *    New product large capacity spiral wound battery achieves successful market
                                                                    introduction

 *     The Board recommends an interim dividend of 1.5 pence per share (H1 2007:
                                                                            nil)

    

    For further information contact:

    Cao Guifa, Executive Chairman, China Shoto plc:     +44 20 7242 2666
                                                                                 +86 159 6108 0515
    Stuart Lane/John Depasquale, Seymour Pierce:        +44 20 7107 8000
    Allan Piper, First City Financial Public Relations:      +44 20 7242 2666
    Jiang Lei, First City (China) Public Relations:           +852 2854 2666
      Chairman's Statement 
    Despite the snowstorms across China, the Sichuan Wenchuan Earthquake and the pressure of growing inflation in H1 2008, China's economy
has sustained its recent rapid growth. According to a report issued by the National Bureau of Statistics of China, the Gross Domestic
Product growth was 10.4% for the first half of 2008.

    In the six months ending 30 June 2008, China Shoto plc has achieved results which have exceeded expectations. In particular, the Group
has made progress in overseas sales and in the OEM market, highlighting a successful strategy focusing on core markets involving an
assessment of the market, renovating current products and developing new products.

    Operational Review
    Back up batteries*
    During the first half of the year the revenue from back up batteries increased by 142% to*59.3 million compared to *24.5 million in the
same period last year, representing 86% of the Group's total revenue. The division realised a profit of*4.3 million, an increase of 30%
compared with*3.3 million in H1 2007.

    China Mobile, China Unicom, China Telecom, China Netcom and China Tietong remain the main customers of the Group. Sales revenues from
telecommunication service operators are up 91% compared to the same period last year.

    The Group achieved �11.7million of overseas sales in H1 2008, 23 times the figure of �0.5 million in H1 2007. In particular, sales to
India represented 82.8% of overseas sales. As the Indian telecommunications market is the second largest telecommunications market after
China amongst developing countries, the Group has focused on marketing to this market following the successful cooperation with Reliance
Communications. An active program and cooperation with Indian's key telecommunications operators is in place.

    Power type batteries:
    In H1 2008 the Group adjusted its manufacturing configuration because of capacity shortage for back up batteries, and the margin are
more attractive in Back up batteries. This resulted in a decrease of 31% in PTB business compared to the same period of 2007.
    Research and Development 
    R&D for back up batteries has focused on creating smaller products to meet demand; the Group successfully developed four types of 12V
series Narrow Front Terminal AGM Batteries, and two types of 12V series Narrow Front Terminal Gel Batteries. These new products are more
compact and save space in the installation. 

    In R&D program for power type batteries, the Group successfully finished the development of 12V 25AH and a series of new power batteries
used in electric motorcycles.  

    An environmentally friendly super energy storage system-super capacitor developed and produced by the research laboratory in the first
half of the year was successfully installed and used in solar-energy street lighting systems at the Beijing Olympic Village. 

    A large capacity spiral wound battery used by heavy machines has been introduced into the market. Revenues of 8 million RMB are
anticipated. 

    Financial Review
    The sales revenue in H1 2008 increased by 81% to �68.6 million compared to �38.0 million in H1 2007. The net profit achieved of �3.9
million was an increase of 29% compared to the �3.0 million achieved in H1 2007. The overseas sales for H1 2008 were �11.7million which is
23 times the sales in H1 2007 which were �0.5 million. 

    Principal risks and uncertainties 
    In overseas markets, the Group has adjusted the price of its products in line with RMB appreciation and adopted exchange rate risk
avoidance mechanisms such as export finance under letter of credits and bill discounts and other methods to reduce risks in exchange rates.


    Changes in national monetary policy have limited the growth of bank loans which is slowing down cash flows from our customers.

    Interim Dividend 
    The Board recommends an interim dividend for 2008 of 1.5 pence per share.


    Outlook 
    The Government has an investment plan of over 300 billion RMB in the telecom networks following the corporate restructurings of China's
Telecom Operators and the issuance of 3G license. The plan could bring new market opportunities for the Group in the next 2 years. The Group
continues to seek opportunities to achieve continuous and sustainable growth, both organically and, where appropriate, through acquisitions.
Our core objective to increase shareholder value remains unchanged and the whole of our team is committed to achieving this.

    Our objective of becoming the largest lead acid battery producer in Asia continues. We plan to gradually enter into renewable energy
industries to become a powerful green energy solution provider.

    Cao Guifa 
    Chairman
      Consolidated income statement 
    For the six months ended 30 June 2008
                                            30 June        30 June    31 December
                                 Notes         2008           2007           2007
                                        (Unaudited)    (Unaudited)      (Audited)
                                               �000           �000           �000
 Revenue                                     68,594         37,990       107,497 
 Cost of sales                             (51,510)       (28,472)       (82,376)
                                                                                *
 Gross profit                                17,084          9,518        25,121 
 Other operating income                         620            614           503 
 Distribution expenses                      (8,265)        (3,753)       (11,131)
 Administrative expenses                    (4,016)        (2,394)        (5,869)
 Other operating expenses                      (21)            (3)           (96)
                                                                                *
 Profit from operations                       5,402          3,982         8,528 
 Finance income                                  59             35            73 
 Finance costs                              (1,106)          (549)        (1,445)
                                                                                *
 Profit before tax from                       4,355          3,468         7,156 
 continuing operations                                              
 Tax expense                       4          (480)          (489)        (1,255)
                                                                                *
 Profit from continuing                       3,875          2,979         5,901 
 operations                                                         
 Profit/(loss) on discontinued                    -             32           (14)
 operations, net of tax                                             
                                                                                *
 Profit for the period                        3,875          3,011         5,887 
                                                                                *
 Attributable to:                                                   
 Equity holders of the parent                 3,813          2,870          5,618
 Minority interests                              62            141            269
                                                                                *
                                              3,875          3,011          5,887
                                                                                *
 Earnings per share for profit                                      
 attributable to the                                                
 equity holders of the parent                                       
 during the period                                                  
  -Basic                                     16.33p         12.29p         24.07p
                                                                                *
  -Diluted                                   16.29p         12.08p         23.66p
                                                                                *
                                                                    
 Continuing operation                                               
  -Basic                                     16.33p         11.37p         24.87p
                                                                                *
  -Diluted                                   16.29p         11.17p         24.45p
                                                                    
                                                                    



    Consolidated balance sheet 
    As at 30 June 2008
 *                                        30 June        30 June  *  31 December
                                             2008           2007            2007
                                      (Unaudited)    (Unaudited)       (Audited)
 Assets                                      �000           �000  *         �000
 Non-current assets                             *                 *            *
 Property, plant and equipment             16,716         13,183  *       15,590
 Available-for-sale investment                148            131  *          137
 Intangible assets                          1,891          1,735           1,778
 Deferred tax assets                           81            118  *           92
 *                                         18,836         15,167  *       17,597
 *                                                                *            *
 Current assets                                                   *            *
 Inventories                               29,270         17,135  *       19,426
 Trade and other receivables               42,568         29,361          31,479
 Due from related parties                   1,263          2,193  *       1,299 
 Short-term investments                     4,311            578  *        1,290
 Cash and cash equivalents                  7,344          4,331  *       11,087
 *                                                                *            *
 *                                         84,756         53,598  *       64,581
 Total assets                             103,592         68,765  *       82,178
 *                                                                *            *
 Liabilities                                                      *            *
 Current liabilities                                              *            *
 Bank borrowings                           30,656         18,727  *       23,284
 Trade and other payables                  36,816         23,650  *       27,817
 Income tax payable                           260            199  *         516 
                                           67,732         42,576          51,617
 *                                                                *            *
 Non-current liabilities                           
 Deferred tax liabilities                       -             56  *           - 
                                                -             56  *            -
 *                                                                *            *
 Total liabilities                         67,732         42,632          51,617
                                                   
 Equity                                                           *            *
 Share capital                              2,334          2,334  *        2,334
 Share premium                              8,630          8,630  *        8,630
 Other reserves                             2,916          2,916  *        2,916
 Statutory reserves                         6,678          5,071  *        6,678
 Retained earnings                         13,332          9,102  *       10,406
 Foreign currency translation               1,402        (2,960)  *        (871)
 reserve                                           
 Total equity attributable to equity       35,292         25,093  *       30,093
 holders of the parent                             
 *                                                                *            *
 Minority interests                           568          1,040  *          468
 Total equity and liabilities             103,592         68,765  *       82,178
 *                                                                *  *





    Consolidated statement of changes in equity 
    For the period ended 30 June 2008
                                                                                             Attributable to equity holders  Minority   
Total
                                                                                                                             interest
                                                                                                                             s
 For the six months ended 30       Share      Share     Other  Statutory             Retained             Foreign     Total             
 June 2008 (Unaudited)                                                                                    Currency

                                 capital    premium  Reserves   reserves             earnings  Translation Reserve                     *
 *                                  �000       �000      �000       �000                 �000                 �000     �000      �000    
�000
 Balance as at 1 January 2008      2,334      8,630     2,916      6,678               10,406                (871)   30,093       468  
30,561


 Net profit for the financial          -          -         -          -                3,813                    -    3,813        62   
3,875
 period 
 Foreign currency translation          -          -         -          -                    -                2,273    2,273        38   
2,311
 Total recognized income and                                                                                          6,086       100   
6,186
 expense 
 *
 Share based payment expense 
 Employee share options                -          -         -          -                  163                    -      163         -     
163
 Dividends paid                        -          -         -          -              (1,050)                    -  (1,050)         - 
(1,050)

 Balance as at 30 June 2008        2,334      8,630     2,916      6,678               13,332                1,402   35,292       568  
35,860



                                                                                             Attributable to equity holders  Minority   
Total
                                                                                                                             interest
                                                                                                                             s
 For the six months ended 30       Share    Share       Other  Statutory      Retained                    Foreign     Total             
 June 2007(Unaudited)                                                                                     Currency
                                 capital  premium    Reserves   reserves      earnings         Translation Reserve                     *
 *                                  �000     �000        �000       �000          �000                        �000     �000      �000    
�000
 Balance as at 1 January 2007      2,334    8,630       2,916      5,071         6,769                     (2,272)  23,448      1,140  
24,588

 Net profit for the financial          -        -           -          -         2,870                           -    2,870       141   
3,011
 period 
 Foreign currency translation          -        -           -          -             -                       (688)    (688)         5   
(683)
 Total recognized income and                                                                                          2,182       146   
2,328
 expense 
 *
 Share based payment expense 
 Employee share options                -        -           -          -           163                           -      163         -     
163
 Dividends paid                        -        -           -          -         (700)                           -    (700)         -   
(700)
 Dividends paid to minority            -        -           -          -             -                           -        -     (246)   
(246)
 shareholders of subsidiaries 

 Balance as at 30 June 2007        2,334    8,630       2,916      5,071         9,102                     (2,960)   25,093     1,040  
26,133
  




    Consolidated statement of changes in equity (Continued)
                                                                         Attributable to equity holders  Minority Interests   Total

                                                                                     Foreign  
 For the twelve months ended 31
 December 2007 (Audited) 
                                   Share    Share   Other   Statutory  Retained      currency     Total                   *  *
                                 capital  premium  reserve   reserves   earnings  Translation         *                   *       *
                                                         s
                                       *        *        *          *          *       reserve        *                   *       *
 *                                  �000     �000     �000       �000       �000          �000     �000                �000    �000
 Balance as at 1 January 2007      2,334    8,630    2,916      5,071      6,769       (2,272)  23,448                1,140  24,588


 Net profit for the financial        -        -        -          -        5,618           -     5,618                  269   5,887
 period 
 Foreign currency translation        -        -        -          -          -           1,401    1,401                 17    1,418
 Total recognized income and                                                                      7,019                   *   7,305
 expense 
 *
 Disposal of subsidiary              -          -      -          -          -             -        -                (712)    (712)
 Transfer to statutory reserves      -          -      -        1,607    (1,607)           -        -                   -         -
 Share based payment expense           *          *      *          *          *             *        *                   *       *
   Employee share options            -          -      -          -          326           -       326                  -       326
 Dividends paid                      -          -      -          -        (700)           -      (700)                 -     (700)
 Dividends announced to                -          -      -          -          -             -        -               (246)   (246)
 minority
 shareholders of subsidiaries 

 Balance as at 31 December 2007    2,334      8,630  2,916     6,678*    10,406*        (871)*  30,093*                468*  30,561





    
 
    Consolidated cash flow statements     
    For the period ended 30 June 2008 
                                               30 June      30 June  31 December
                                                  2008         2007         2007
                                           (Unaudited)  (Unaudited)    (Audited)
 Cash flows from operating activities*            �000         �000         �000
 Profit before tax from continuing               4,355        3,468        7,156
 operations 
 Profit/(Loss) before tax from                       -            1          351
 discontinued operations 
 Profit before tax                               4,355        3,469        7,507
 Adjustments for: 
 Amortisation of intangible assets                  23           41           50
 Depreciation of property, plant and               683          560        1,137
 equipment 
 Losses/(profit) on disposal of property,           20         (10)           42
 plant and equipment 
 Share based payment expense                       163          163          326
 Financial income                                 (59)         (48)         (88)
 Financial expense                               1,106          493        1,460
 Cash flow from operating activities
 before changes of working capital and           6,291        4,668       10,434
 provisions 
 Working capital changes: 
 Gain on payable write-off                           -            -          (9)
 (Increase)/decrease in: 
 Inventories                                   (8,085)      (6,990)      (8,997)
 Trade and other receivables                   (8,447)     (10,259)     (12,504)
 Due from related parties                          132          937        (228)
 Increase/(decrease) in: 
 Trade and other payables                        6,848        1,077        9,817
 Due to related parties                              -            -        (651)
 Cash generated from/(used in) operations      (3,261)     (10,567)      (2,138)

 Interest received                                  59           48           88
 Income tax paid                                 (749)        (422)        (976)
 Net cash flows from operating activities      (3,951)     (10,941)      (3,026)
 Cash flows from investing activities 
 Purchase of land use right                        (2)        (241)        (422)
 Purchase of property, plant and equip         (1,004)      (1,106)      (3,627)
 Purchase of short-term investment             (2,832)          375        (283)
 Disposal of a subsidiary undertaking,               -            -        (361)
 net of cash transferred 
 Proceeds from disposal of property,               133          288          307
 plant and equipment 
  Dividend from former subsidiary                    -            -          175
 (declared before disposal)
 Cash flows used in investing activities       (3,705)        (684)      (4,211)
 Cash flows from financing activities 
 Increase in bank borrowings                    23,993        7,837       37,853
 Decrease in bank borrowings                  (18,593)      (1,383)     (27,864)
 Interest paid                                 (1,106)        (493)      (1,460)
 Dividends paid                                (1,050)            -        (700)
 Cash flows from financing activities            3,244        5,961        7,829
 Net increase in cash and cash                 (4,412)      (5,664)          592
 equivalents 
 Cash and cash equivalents at beginning         11,087        9,937        9,937
 of period 
 Foreign exchange differences                      669           58          558
 Cash and cash equivalents at end of             7,344        4,331       11,087
 period 

    Notes to the interim consolidated financial information 
    For the six months ended 30 June 2008 

    1.  General information 

    China Shoto plc is a company incorporated in the United Kingdom on 10 May 2005 under the Companies Act 1985. The interim consolidated
financial information of the Company for the six months ended 30 June 2008 comprises China Shoto plc (the 'Company') and its subsidiary
undertakings (the 'Group'). 
    

    The interim consolidated financial information was authorised for issue on 17 Sep 2008. 

    2.  Accounting policies

    Basis of preparation 
    This unaudited consolidated interim financial information has been prepared using the recognition and measurement principles of
International Accounting Standards, International Financial Reporting Standards and Interpretations adopted for use in the European Union
(collectively EU IFRSs). The principal accounting policies used in preparing the interim results are unchanged from those disclosed in the
group's financial statements for the year ended 31 December 2007.
    

    While the financial information included in this interim consolidated financial information has been prepared in accordance with the
recognition and measurement criteria of International Financial Reporting Standards as adopted by the EU (IFRSs), this interim consolidated
financial information does not itself contain sufficient information to comply fully with IFRSs. 
    

    The financial information for the six months ended 30 June 2008 and 30 June 2007 is unreviewed and unaudited and does not constitute the
group's statutory financial statements for those periods. The comparative financial information for the full year ended 31 December 2007
has, however, been derived from the statutory financial statement for that period. A copy of those statutory financial statements has been
delivered to the Registrar of Companies. The auditors' report on those accounts was unqualified, did not include references to any matters
to which the auditors drew attention by way of emphasis without qualifying their report and did not contain a statement under section
237(2)-(3) of the Companies Act 1985. 
    

    Foreign currencies
    The functional currency of the subsidiary undertakings is Renminbi ('RMB'), and the unaudited interim consolidated financial information
of the subsidiary undertakings have been drawn up in RMB. The presentation currency of the Group is pounds sterling and therefore the
interim consolidated financial information has been translated from RMB to pounds sterling at the following exchange rates: 


                   Period-end rates  Average rates
 30 June 2007      �1 = RMB 15.2455  �1 = RMB 15.1841
 31 December 2007  �1 = RMB 14.5807  �1 = RMB 15.2166
 30 June 2008      �1 = RMB 13.5342  �1 = RMB 13.9622
    

    Assets and liabilities are translated into sterling at the closing rate, and all income and expenses are translated at the average rate
during the financial period, being an approximation for the actual rates at the date of the transactions. All resulting exchange differences
are taken to the Foreign Currency Translation within equity. 
    

    3.  Segment reports

    Reporting format 
    The primary segment reporting format is determined to be business segments as the Group's risks and rates of return are affected
predominantly by differences in the products and services produced. The operating businesses are organized and managed separately according
to the nature of the products and services provided, with each segment representing a strategic business unit that offers different products
and serves different markets. The operating businesses are all located in the People's Republic of China, and therefore geographic
information is provided only in respect of the destination of sales. 
    

    Business segments
    The Group is comprised of the following business segments:
    The Back up batteries business segment includes Value Regulated Lead Acid Batteries and Flooded and Gel Batteries. 
    The Turbine business segment includes the development and construction of new turbines and the refurbishment and reconstruction of
existing turbines. On 7 November 2007 the Group disposed of Beijing Full Three Dimension Engineering Co. Ltd which carried out all of the
Group's turbine manufacturing operation.

    Allocation basis and transfer pricing
    Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a
reasonable basis.  
    

    Business segments 
    The following tables present certain sales, profit regarding the Group's business segments for the period ended 30 June 2007 and 2008
and 31 December 2007.  


 Six months to 30 June 2008      Back up Batteries     PTB   Eliminations  Continuing   Turbine     Total
 (Unaudited)                                                               operations
                                             2008     2008          2008         2008      2008     2008 
 *                                            �000     �000          �000         �000      �000     �000
 Revenue*                                        *        *             *            *         *        *
 Sales to external customers               59,312    9,282            -        68,594        -    68,594 
 Inter-segment sales                           -    13,840       (13,840)          -         -        -  
 *                                               *        *             *            *         *        *
 Total revenue                             59,312   23,122       (13,840)      68,594        -    68,594 
 *                                               *        *             *            *         *        *
 *                                               *        *             *            *         *        *
 Results:                                        *        *             *            *         *        *
 Segment profit                             4,305      383            -         4,688        -     4,688 
 *                                               *        *             *            *         *        *
 Unallocated corporate expenses                  *        *             *        (333)       -      (333)
 *                                               *        *             *            *         *        *
 Profit from operations before                   *        *             *       4,355        -     4,355 
 taxation
 Income taxation                                 *        *             *        (480)       -      (480)
 *                                               *        *             *            *         *        *
 Profit for the period                           *        *             *       3,875        -     3,875 

    *     Business segments 
 Six months to 30 June 2007      Back up Batteries       PTB   Eliminations  Continuing   Turbine       Total
 (Unaudited)                                                                 operations
                                             2007       2007          2007         2007      2007       2007 
 *                                            �000       �000          �000         �000      �000       �000
 Revenue:                                        *          *             *            *         *          *
 Sales to external customers               24,525     13,465            -        37,990     3,602     41,592 
 Inter-segment sales                            3         -             (3)          -         -          -  
 *                                               *          *             *            *         *          *
 Total revenue                             24,528     13,465            (3)      37,990     3,602     41,592 
 *                                               *          *             *            *         *          *
 *                                               *          *             *            *         *          *
 Results:                                        *          *             *            *         *          *
 Segment profit                             3,302        726            -         4,028          1     4,029 
 *                                               *          *             *            *         *          *
 Unallocated corporate expenses                  *          *             *        (560)       -        (560)
 *                                               *          *             *            *         *          *
 Profit from operations before                   *          *             *       3,468         1      3,469 
 taxation
 Income taxation                                 *          *             *        (489)       31       (458)
 *                                               *          *             *            *         *          *
 Profit for the year                             *          *             *       2,979        32      3,011 
    
 
    *  Twelve months to 31 December    Back up Batteries       PTB   Eliminations  Continuing   Turbine        Total
 2007 (Audited)                                                              operations
                                             2007       2007          2007         2007      2007        2007 
 *                                            �000       �000          �000         �000      �000        �000
 Revenue:                                        *          *             *            *         *           *
 Sales to external customers               78,018     29,479            -       107,497     5,817     113,314 
 Inter-segment sales                           -       5,814        (5,814)          -         -           -  
 *                                               *          *             *            *         *           *
 Total revenue                             78,018     35,293        (5,814)     107,497     5,817     113,314 
 *                                               *          *             *            *         *           *
 *                                               *          *             *            *         *           *
 Results:                                        *          *             *            *         *           *
 Segment profit                             7,535      1,149            -         8,684        351      9,035 
 *                                               *          *             *            *         *           *
 Unallocated corporate expenses                  *          *             *      (1,528)       -       (1,528)
 *                                               *          *             *            *         *           *
 Profit from operations before                   *          *             *       7,156       351       7,507 
 taxation
 Income taxation                                 *          *             *      (1,255)        1      (1,254)
 Loss from selling discontinued                  *          *             *          -       (366)       (366)
 operation 
 *                                               *          *             *            *         *           *
 Profit/*loss* for the year                      *          *             *       5,901       (14)      5,887 

    b)    Geographical segments 
    Six months to 30 June 2008 (Unaudited) 

                    Domestic sales        Export sales          Elimination            *      *  Total
                     2008       2007        2008    2007      2008        2007          2008        2007
                     �000       �000  *     �000    �000  *   �000        �000  *       �000        �000
 Segment sales    56,894     41,117      11,700     475        -        3,602        68,594      37,990 
    

    Twelve months to 31 December 2007 (Audited) 
                  Domestic sales     Export sales     Elimination        Total
                            2007             2007            2007         2007
                            �000  *          �000  *         �000  *      �000
 Segment sales          106,394            6,920   *       5,817      107,497 
                               *     *                *                      *
    All export sales originate from the Back up Batteries segment. 

    4. Income tax
 *                               30 June 2008  *  30 June 2007    31 December 2007
                                  (Unaudited)      (Unaudited)           (Audited)
                                         �000  *          �000                �000
 Income tax expense is as                                       
 follows:                                                       
 Current income tax                       463  *           509               1,324
 *                                             *                                 *
 Deferred income tax:                          *                
 Origination and reversal of               17             (20)                (57)
 temporary differences                                          
 Previously recognized deferred                                 
 tax liability written off in               -                -                (12)
 the period                                                     
 *                                             *                                 *
                                           17             (20)                (69)
 *                                             *                                 *
                                          480  *           489               1,255

    5. Dividends
 *                               30 June 2008  *  30 June 2007    31 December 2007
                                  (Unaudited)      (Unaudited)           (Audited)
                                         �000  *          �000                �000
 Dividends on ordinary shares           1,050  *           700                 700
 declared and paid during the                                   
 six months period                                              
 *                                          *  *             *                   *
    China Shoto plc declared a dividend of 4.5p per ordinary share amounting to �1,050,000 on 22 April 2008 and the dividend was approved by
the shareholders on 22 May 2008. China Shoto plc declared a dividend of 3p per ordinary share amounting to �700,000 on 26 April 2007 and the
dividend was approved by the shareholders on 12 June 2007. 

    6. Earnings per share from continuing operations 

    Earnings for the purpose of basic and diluted earnings per share are the net profit attributable to equity holders of the parent for the
six months ended 30 June 2008 of �3,813,000 (30 June 2007: �2,870,000) and twelve months ended 31 December 2007 of �5,618,000. 
    

    The profit from continuing operations for the financial period attributable to equity holders of the parent is as follows: 


                                    30 June   *     30 June     31 December 2007
                                        2008            2007  
                                 (Unaudited)     (Unaudited)           (Audited)
                                        �000            �000                �000
 Profit attributable to equity         3,813           2,870               5,618
 holders of the parent                                        
 Profit/*Loss* on discontinued             -            (32)                  14
 operation, net of tax                                        
 Minority interest of                      -              16                 173
 discontinued operation                                       
 *                                                            
 Profit from continuing                3,813           2,854               5,805
 operations attributable to                                   
 equity holders of the parent                                 
                                                              

    The weighted average number of ordinary shares used in the calculation of earnings per share from continuing operations has been derived
as follows:

                                    30 June   *     30 June     31 December 2007
                                        2008            2007  
                                 (Unaudited)     (Unaudited)           (Audited)
                                        �000            �000                �000
 Number of ordinary shares                                    
 Weighted average number of       23,744,755      23,343,770          23,343,770
 ordinary shares - basic                                      
 Dilutive effect of share             66,642         411,971             400,985
 options                                                      
 *                                                            
 Weighted average number of       23,811,397      23,755,741          23,744,755
 ordinary shares - diluted                                    


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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