{"id":306,"date":"2011-03-29T08:57:18","date_gmt":"2011-03-29T08:57:18","guid":{"rendered":"http:\/\/www.ttigroup.com\/onlinereport\/ir2011\/?page_id=306"},"modified":"2011-03-29T08:57:18","modified_gmt":"2011-03-29T08:57:18","slug":"notes-to-the-condensed-consolidated-financial-statements","status":"publish","type":"page","link":"https:\/\/ir2012.www.ttigroup.com\/financial-statement\/notes-to-the-condensed-consolidated-financial-statements\/","title":{"rendered":"Notes to the Condensed Consolidated Financial Statements (Unaudited)"},"content":{"rendered":"<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>1. Basis of preparation and accounting policies<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard (&#8220;HKAS&#8221;) 34 &#8220;Interim Financial Reporting&#8221; issued by the Hong Kong Institute of Certified Public Accountants and the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (&#8220;Stock Exchange&#8221;).<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>2. Significant accounting policies<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The condensed consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments which are measured at fair value.<\/p>\n<p>The accounting policies and method of computations used in the condensed consolidated financial statements for the six months ended June 30, 2012 are the same as those followed in the preparation of the Group&#8217;s annual financial statements for the year ended December 31, 2011.<\/p>\n<p>In the current interim period, the Group has applied for the first time, certain amendments to Hong Kong Financial Reporting Standards (&#8220;HKFRSs&#8221;) issued by the Hong Kong Institute of Certified Public Accountants (&#8220;HKICPA&#8221;) that are mandatory effective for the current interim period.<\/p>\n<p>The application of the above amendments to HKFRSs in the current interim period has had no material effect on the amounts reported in these condensed consolidated financial statements and\/or disclosures set out in these condensed consolidated financial statements.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>3. Segment information<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The following is an analysis of the Group&#8217;s revenue and results by reportable and operating segments for the period under review:<\/p>\n<p>For the period ended June 30, 2012<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"thin-border-bottom innerPageHeader\">\n\t\t<td width=\"291\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">Power<br \/>Equipment<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD bold\">Floor Care<br \/>and Appliances<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">Eliminations<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD bold paddingRight\">Consolidated<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Turnover<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">External sales<\/td>\n\t\t<td class=\"figureTD featureText\">1,407,426<\/td>\n\t\t<td class=\"figureTD featureText\">447,367<\/td>\n\t\t<td class=\"figureTD featureText\">\u2014<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">1,854,793<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Inter-segment sales<\/td>\n\t\t<td class=\"figureTD featureText\">6,960<\/td>\n\t\t<td class=\"figureTD featureText\">457<\/td>\n\t\t<td class=\"figureTD featureText\">(7,417)<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">\u2014<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Total segment turnover<\/td>\n\t\t<td class=\"figureTD featureText\">1,414,386<\/td>\n\t\t<td class=\"figureTD featureText\">447,824<\/td>\n\t\t<td class=\"figureTD featureText\">(7,417)<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">1,854,793<\/td>\n\t<\/tr>\n<\/table>\n<p>For the period ended June 30, 2011<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"thin-border-bottom innerPageHeader\">\n\t\t<td width=\"291\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD\">Power<br \/>Equipment<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD\">Floor Care<br \/>and Appliances<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"94\" class=\"figureTD\">Eliminations<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">Consolidated<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Turnover<\/td>\n\t\t<td><\/td>\n\t\t<td><\/td>\n\t\t<td><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">External sales<\/td>\n\t\t<td class=\"figureTD\">1,294,529<\/td>\n\t\t<td class=\"figureTD\">489,380<\/td>\n\t\t<td class=\"figureTD\">\u2014<\/td>\n\t\t<td class=\"figureTD paddingRight\">1,783,909<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Inter-segment sales<\/td>\n\t\t<td class=\"figureTD\">10,710<\/td>\n\t\t<td class=\"figureTD\">1,811<\/td>\n\t\t<td class=\"figureTD\">(12,521)<\/td>\n\t\t<td class=\"figureTD paddingRight\">\u2014<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Total segment turnover<\/td>\n\t\t<td class=\"figureTD\">1,305,239<\/td>\n\t\t<td class=\"figureTD\">491,191<\/td>\n\t\t<td class=\"figureTD\">(12,521)<\/td>\n\t\t<td class=\"figureTD paddingRight\">1,783,909<\/td>\n\t<\/tr>\n<\/table>\n<p>Inter-segment sales are charged at prevailing market rates.<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"215\"><\/td>\n\t\t<td width=\"454\" colspan=\"6\" class=\"bold alignCenter paddingRight\">Six months period ended June 30<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine\">\n\t\t<td width=\"215\"><\/td>\n\t\t<td width=\"227\" colspan=\"3\" class=\"bold alignCenter\">2012<\/td>\n\t\t<td width=\"227\" colspan=\"3\" class=\"alignCenter paddingRight\">2011<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t\t<td width=\"215\"><\/td>\n\t\t<td width=\"76\" class=\"figureTD bold\">Power<br \/>Equipment<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"76\" class=\"figureTD bold\">Floor<br \/>Care and<br \/>Appliances<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"76\" class=\"figureTD bold\">Consolidated<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"76\" class=\"figureTD\">Power<br \/>Equipment<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"76\" class=\"figureTD\">Floor<br \/>Care and<br \/>Appliances<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"76\" class=\"figureTD paddingRight\">Consolidated<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td width=\"215\">Segment results<\/td>\n\t\t<td class=\"figureTD featureText\">114,801<\/td>\n\t\t<td class=\"figureTD featureText\">15,982<\/td>\n\t\t<td class=\"figureTD featureText\">130,783<\/td>\n\t\t<td class=\"figureTD\">89,803<\/td>\n\t\t<td class=\"figureTD\">27,462<\/td>\n\t\t<td class=\"figureTD paddingRight\">117,265<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td width=\"215\">Finance costs<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><strong>(26,483)<\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD paddingRight\">(29,298)<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td width=\"215\">Share of results of associates<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\">\u2014<\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD paddingRight\">(273)<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td width=\"215\">Profit before taxation<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\">104,300<\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD paddingRight\">87,694<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td width=\"215\">Taxation charge<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\">(7,916)<\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD paddingRight\">(7,024)<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td width=\"215\">Profit for the period<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\">96,384<\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD paddingRight\">80,670<\/td>\n\t<\/tr>\n<\/table>\n<p>Segment profit represents the profit earned by each segment without allocation of share of results of associates and finance costs. This is the measure reported to the Group&#8217;s Chief Executive Officer, the chief operating decision maker (&#8220;CODM&#8221;) of the Group, for the purpose of resource allocation and performance assessment.<\/p>\n<p>The following is an analysis of the Group&#8217;s assets by reportable and operating segments reported to the CODM of the Group:<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td width=\"480\">Power Equipment<\/td>\n\t\t<td class=\"figureTD featureText\">2,292,598<\/td>\n\t\t<td class=\"figureTD paddingRight\">2,175,535<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td width=\"480\">Floor Care and Appliances<\/td>\n\t\t<td class=\"figureTD featureText\">625,972<\/td>\n\t\t<td class=\"figureTD paddingRight\">619,405<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td class=\"figureTD featureText\">2,918,570<\/td>\n\t\t<td class=\"figureTD paddingRight\">2,794,940<\/td>\n\t<\/tr>\n<\/table>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>4. Taxation charge<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"bold alignCenter paddingRight\">Six months period ended June 30<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Current tax: <\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Hong Kong <\/td>\n\t\t<td class=\"figureTD featureText\">569<\/td>\n\t\t<td class=\"figureTD paddingRight\">700 <\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Overseas Tax <\/td>\n\t\t<td class=\"figureTD featureText\">6,219<\/td>\n\t\t<td class=\"figureTD paddingRight\">12,679 <\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>Deferred Tax <\/td>\n\t\t<td class=\"figureTD featureText\">1,128<\/td>\n\t\t<td class=\"figureTD paddingRight\">(6,355) <\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td><\/td>\n\t\t<td class=\"figureTD featureText\">7,916<\/td>\n\t\t<td class=\"figureTD paddingRight\">7,024 <\/td>\n\t<\/tr>\n<\/table>\n<p>Hong Kong Profits Tax is calculated at 16.5% of the estimated assessable profits for the period.<\/p>\n<p>Taxation arising in other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>5. Profit for the period<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"bold alignCenter paddingRight\">Six months period ended June 30<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Profit for the period has been arrived at after charging (crediting):<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Depreciation and amortisation of property, plant and equipment<\/td>\n\t\t<td class=\"figureTD featureText\">36,172<\/td>\n\t\t<td class=\"figureTD paddingRight\">34,866 <\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Amortisation of lease prepayments<\/td>\n\t\t<td class=\"figureTD featureText\">163\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">159<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Amortisation of intangible assets<\/td>\n\t\t<td class=\"figureTD featureText\">24,773\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">20,237<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Total depreciation and amortisation<\/td>\n\t\t<td class=\"figureTD featureText\">61,108\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">55,262<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Exchange loss (gain)<\/td>\n\t\t<td class=\"figureTD featureText\">4,942\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">(10,082)<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Staff costs<\/td>\n\t\t<td class=\"figureTD featureText\">263,391\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">250,747<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td class=\"tableIndent\">Fair value loss on held-for-trading investments<\/td>\n\t\t<td class=\"figureTD featureText\">1,228\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">762<\/td>\n\t<\/tr>\n<\/table>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>6. Dividends<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>A dividend of HK7.75 cents (approximately US1.00 cent) per share (2011: HK6.25 cents (approximately US0.80 cent) per share) was paid to shareholders as the final dividend for 2011 on July 6, 2012.<\/p>\n<p>The Directors have determined that an interim dividend of HK6.75 cents (approximately US0.87 cent) per share (2011: HK5.00 cents (approximately US0.64 cent) per share) should be paid to the shareholders of the Company whose names appear in the Register of Members on September 14, 2012.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>7. Earnings per share<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The calculation of the basic and diluted earnings per share attributable to the ordinary shareholders of the Company is based on the following data:<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"bold alignCenter paddingRight\">Six months period ended June 30<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Earnings for the purpose of basic earnings per share:<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Profit for the period attributable to owners of the Company<\/td>\n\t\t<td class=\"figureTD featureText\">96,362\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">80,259<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Effect of dilutive potential ordinary shares:<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Effective interest on convertible bonds (net of tax)<\/td>\n\t\t<td class=\"figureTD featureText\">4,457\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">7,772<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Earnings for the purpose of diluted earnings per share<\/td>\n\t\t<td class=\"figureTD featureText\">100,819\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">88,031<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Weighted average number of ordinary shares for the purpose of basic earnings per share<\/td>\n\t\t<td class=\"figureTD featureText\">1,694,876,782\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">1,606,738,752<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Effect of dilutive potential ordinary shares:<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Share options<\/td>\n\t\t<td class=\"figureTD featureText\">5,430,285<\/td>\n\t\t<td class=\"figureTD paddingRight\">6,617,803<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Convertible bonds<\/td>\n\t\t<td class=\"figureTD featureText\">129,688,975\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">223,557,000<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Weighted average number of ordinary shares for the purpose of diluted earnings per share<\/td>\n\t\t<td class=\"figureTD featureText\">1,829,996,042\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">1,836,913,555<\/td>\n\t<\/tr>\n<\/table>\n<p>The computation of diluted earnings per share for the six months ended June 30, 2012 and June 30, 2011 does not assume the exercise of the Company&#8217;s outstanding share options if the exercise price of these options is higher than the average market price for the Company&#8217;s shares.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>8. Additions to property, plant and equipment\/intangible assets<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>During the period, the Group spent approximately USD37 million (for the six months ended June 30, 2011: USD44 million) and USD45 million (for the six months ended June 30, 2011: USD23 million) on the acquisition of property, plant and equipment and intangible assets respectively.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>9. Trade and other receivables\/Bills receivable<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The Group has a policy of allowing credit periods ranging from 60 days to 120 days. The aging analysis of trade receivables based on the invoice date is as follows:<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>0 to 60 days<\/td>\n\t\t<td class=\"figureTD featureText\">612,456\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">569,695<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>61 to 120 days<\/td>\n\t\t<td class=\"figureTD featureText\">24,937<\/td>\n\t\t<td class=\"figureTD paddingRight\">17,145<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>121 days or above\t<\/td>\n\t\t<td class=\"figureTD featureText\">21,267\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">19,806<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Total trade receivables<\/td>\n\t\t<td class=\"figureTD featureText\">658,660\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">606,646<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>Other receivables\t<\/td>\n\t\t<td class=\"figureTD featureText\">67,950\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">66,811<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td><\/td>\n\t\t<td class=\"figureTD featureText\">726,610<\/td>\n\t\t<td class=\"figureTD paddingRight\">673,457<\/td>\n\t<\/tr>\n<\/table>\n<p>All the Group&#8217;s bills receivable at June 30, 2012 are due within 120 days.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>10. Trade and other payables\/Bills  payable<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>The aging analysis of trade payables based on the invoice date is as follows:<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>0 to 60 days<\/td>\n\t\t<td class=\"figureTD featureText\">324,459<\/td>\n\t\t<td class=\"figureTD paddingRight\">259,435<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>61 to 120 days<\/td>\n\t\t<td class=\"figureTD featureText\">112,124<\/td>\n\t\t<td class=\"figureTD paddingRight\">93,376<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>121 days or above\t<\/td>\n\t\t<td class=\"figureTD featureText\">11,530<\/td>\n\t\t<td class=\"figureTD paddingRight\">7,048<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Total trade payables<\/td>\n\t\t<td class=\"figureTD featureText\">448,113<\/td>\n\t\t<td class=\"figureTD paddingRight\">359,859<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>Other payables<\/td>\n\t\t<td class=\"figureTD featureText\">256,493<\/td>\n\t\t<td class=\"figureTD paddingRight\">259,004<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td><\/td>\n\t\t<td class=\"figureTD featureText\">704,606<\/td>\n\t\t<td class=\"figureTD paddingRight\">618,863<\/td>\n\t<\/tr>\n<\/table>\n<p>All the Group&#8217;s bills payable at June 30, 2012 are due within 120 days.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>11. Unsecured borrowings<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>During the period, the Group obtained new bank borrowings in the amount of USD353 million (2011: USD161 million) which are London Interbank Offered Rate, Euro Interbank Offered Rate or Hong Kong best lending rates based. The Group repaid the existing bank borrowings in the amount of USD332 million (2011: USD336 million).<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>12. Convertible bonds<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>In 2009, the Group issued two tranches of 5-year 8.5% coupon convertible bonds with an aggregate principal amount of USD150,000,000 (&#8220;Convertible Bonds 2014&#8221;). Unless previously redeemed, converted or purchased and cancelled, the Convertible Bonds 2014 will be redeemed at their principal amount on the maturity date on April 30, 2014.<\/p>\n<p>At the option of the Convertible Bonds 2014&#8217;s holders, on April 30, 2012, the holders could redeem Convertible Bond 2014 at the principal amount plus accrued interest to the date of redemption. Accordingly, the Convertible Bonds 2014 were classified as current liabilities as of December 31, 2011.<\/p>\n<p>The weighted average effective interest rate of Convertible Bonds 2014 is 15.57%.<\/p>\n<p>During the period, all the Convertible Bonds 2014 were converted into 223,557,689 shares of the Company at HKD5.20 per share.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>13. Share capital<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"291\"><\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"figureTD bold alignCenter\">Number of shares<\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"figureTD bold alignCenter paddingRight\">Share capital<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine\">\n\t\t<td><\/td>\n\t\t<td width=\"95\" class=\"figureTD bold\">June 30<br \/>2012<\/td>\n\t\t<td width=\"94\" class=\"figureTD\">December 31<br \/>2011<\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t  <td>&nbsp;<\/td>\n\t  <td class=\"figureTD bold\"><\/td>\n\t  <td class=\"figureTD bold\"><\/td>\n\t  <td width=\"94\" class=\"figureTD bold\">USD&#8217;000<\/td>\n\t  <td width=\"95\" class=\"figureTD paddingRight\">USD&#8217;000<\/td>\n    <\/tr>\n\t<tr>\n\t\t<td>Ordinary shares of HKD0.10 each <\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD paddingRight\"><\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Authorised <\/td>\n\t\t<td class=\"figureTD featureText\">2,400,000,000<\/td>\n\t\t<td width=\"94\" class=\"figureTD\">2,400,000,000 <\/td>\n\t\t<td class=\"figureTD featureText\">30,769<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">30,769 <\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Issued and fully paid: <\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">At the beginning of the period <\/td>\n\t\t<td class=\"figureTD featureText\">1,601,564,252<\/td>\n\t\t<td class=\"figureTD\">1,606,625,752 <\/td>\n\t\t<td class=\"figureTD featureText\">20,533<\/td>\n\t\t<td class=\"figureTD paddingRight\">20,598 <\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Issue of shares upon exercise of share options <\/td>\n\t\t<td class=\"figureTD featureText\">395,000<\/td>\n\t\t<td class=\"figureTD\">455,000 <\/td>\n\t\t<td class=\"figureTD featureText\">5<\/td>\n\t\t<td class=\"figureTD paddingRight\">6 <\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Repurchase of shares <\/td>\n\t\t<td class=\"figureTD featureText\">(3,330,000)<\/td>\n\t\t<td class=\"figureTD\">(5,516,500) <\/td>\n\t\t<td class=\"figureTD featureText\">(43)<\/td>\n\t\t<td class=\"figureTD paddingRight\">(71) <\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td class=\"tableIndent\">Conversion of convertible bonds <\/td>\n\t\t<td class=\"figureTD featureText\">223,557,689<\/td>\n\t\t<td class=\"figureTD\">\u2014 <\/td>\n\t\t<td class=\"figureTD featureText\">2,877<\/td>\n\t\t<td class=\"figureTD paddingRight\">\u2014 <\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>At the end of the period <\/td>\n\t\t<td class=\"figureTD featureText\">1,822,186,941<\/td>\n\t\t<td class=\"figureTD\">1,601,564,252 <\/td>\n\t\t<td class=\"figureTD featureText\">23,372<\/td>\n\t\t<td class=\"figureTD paddingRight\">20,533 <\/td>\n\t<\/tr>\n<\/table>\n<p>During the period, the Company repurchased its own shares through the Stock Exchange as follows:<\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader\">\n\t\t<td width=\"291\" rowspan=\"2\">&nbsp;<\/td>\n\t\t<td width=\"95\" class=\"bold alignRight\" rowspan=\"2\">No. of ordinary<br \/>shares at<br \/>HKD0.10 each<\/td>\n\t\t<td width=\"189\" colspan=\"2\" class=\"alignCenter bold\">Price per share<\/td>\n\t\t<td width=\"95\" class=\"bold alignRight paddingRight\" rowspan=\"2\">Aggregate<br \/>consideration<br \/>paid<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine\">\n\t\t<td width=\"94\" class=\"bold alignRight\">Highest<\/td>\n\t\t<td width=\"94\" class=\"bold alignRight paddingRight\">Lowest<\/td>\n\t<\/tr>\n\t<tr class=\"innerPageHeader2ndLine thin-border-bottom\">\n\t  <td>Month of repurchase<\/td>\n\t  <td class=\"bold alignRight\">&nbsp;<\/td>\n\t  <td width=\"94\" class=\"bold alignRight\">      HKD<\/td>\n\t  <td width=\"94\" class=\"bold alignRight paddingRight\">      HKD<\/td>\n\t  <td width=\"95\" class=\"bold alignRight paddingRight\">USD&#8217;000<\/td>\n    <\/tr>\n\t<tr>\n\t\t<td>January 2012<\/td>\n\t\t<td class=\"figureTD featureText\">200,000<\/td>\n\t\t<td class=\"figureTD featureText\">8.01<\/td>\n\t\t<td class=\"figureTD featureText\">7.93<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">205<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>May 2012<\/td>\n\t\t<td class=\"figureTD featureText\">1,980,000<\/td>\n\t\t<td class=\"figureTD featureText\">9.85<\/td>\n\t\t<td class=\"figureTD featureText\">8.59<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">2,316<\/td>\n\t<\/tr>\n\t<tr class=\"thin-border-bottom\">\n\t\t<td>June 2012<\/td>\n\t\t<td class=\"figureTD featureText\">1,150,000<\/td>\n\t\t<td class=\"figureTD featureText\">9.40<\/td>\n\t\t<td class=\"figureTD featureText\">8.75<\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">1,349<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td><\/td>\n\t\t<td class=\"figureTD featureText\">3,330,000<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\"figureTD featureText paddingRight\">3,870<\/td>\n\t<\/tr>\n<\/table>\n<p>The repurchased shares were cancelled and accordingly the issued share capital of the Company was reduced by the nominal value of these shares. An amount equivalent to the par value of the shares cancelled of USD43,000 was transferred to the capital redemption reserve. The consideration paid on the repurchase of the shares of approximately USD3,870,000 was charged to retained profits.<\/p>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>14. Contingent liabilities<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td>Guarantees given to banks in respect of credit facilities utilised by associates<\/td>\n\t\t<td class=\"figureTD featureText\">11,013\t<\/td>\n\t\t<td class=\"figureTD paddingRight\">10,858<\/td>\n\t<\/tr>\n<\/table>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>15. Capital commitments<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"financialTable\" style=\"font-size:120%\">\n\t<tr class=\"innerPageHeader thin-border-bottom\">\n\t\t<td width=\"480\"><\/td>\n\t\t<td width=\"94\" class=\"figureTD bold\">June 30<br \/>2012<br \/>USD&#8217;000<\/td>\n\t\t<td width=\"95\" class=\"figureTD paddingRight\">December 31<br \/>2011<br \/>USD&#8217;000<\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td>Capital expenditure in respect of the purchase of property, plant and equipment:<\/td>\n\t\t<td class=\"figureTD featureText\"><\/td>\n\t\t<td class=\" paddingRight\"><\/td>\n\t<\/tr>\n\t<tr>\n\t\t<td class=\"tableIndent\">Contracted for but not provided<\/td>\n\t\t<td class=\"figureTD featureText\">17,684<\/td>\n\t\t<td class=\"figureTD paddingRight\"> 15,484<\/td>\n\t<\/tr>\n\t<tr class=\"thick-border-bottom\">\n\t\t<td class=\"tableIndent\">Authorised but not contracted for<\/td>\n\t\t<td class=\"figureTD featureText\">1,447 <\/td>\n\t\t<td class=\"figureTD paddingRight\">287<\/td>\n\t<\/tr>\n<\/table>\n<\/div>\n<\/div>\n<div style=\"overflow: hidden\">\n<div class=\"report-collapse-header clearfix\"><span>16. Event after the reporting period<\/span><span class=\"toggleButton\">open<\/span><\/div>\n<div class=\"report-collapse-content\">\n<p>On August 3, 2012, the Company has entered into an USD146,000,000 medium term loan with final maturity in 2016. The loan will be applied to refinance loans due.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>1. Basis of preparation and accounting policiesopen The condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard (&#8220;HKAS&#8221;) 34 &#8220;Interim Financial Reporting&#8221; issued by the Hong Kong Institute of Certified Public Accountants and the applicable &hellip; <a href=\"https:\/\/ir2012.www.ttigroup.com\/financial-statement\/notes-to-the-condensed-consolidated-financial-statements\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"parent":86,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"_tmp_report.php","meta":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/pages\/306"}],"collection":[{"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/comments?post=306"}],"version-history":[{"count":0,"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/pages\/306\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/pages\/86"}],"wp:attachment":[{"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/media?parent=306"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/ir2012.www.ttigroup.com\/wp-json\/wp\/v2\/yst_prominent_words?post=306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}