Consolidated Profit And Loss Account - Unaudited
for the six months ended 30th June 1997
Notes To The Accounts
1. Basis of preparation
The interim accounts have been prepared in accordance with the principal accounting policies set out in the 1996 annual report.
2. Net finance charges
3. Net operating profit
4. Exceptional item
The exceptional item in 1996 represented profit on the sale of 12.21% of Hong Kong Dragon Airlines Limited.
5. Taxation
The taxation charge is calculated on the estimated assessable profits of the Group and the rates used for the periods ended 30th June 1997 and 1996 are :-
| Hong Kong | 16.5 % |
| Overseas | Applicable tax rates |
6. Interim dividend
An interim dividend of HK11.5¢ (1996: HK11.5¢) per share has today been declared and will be paid on 30th September 1997 to shareholders registered at the close of business on 15th September 1997. The share register will be closed from 15th September 1997 to 19th September 1997, both dates inclusive.
7. Reserves
8. Comparative amounts
Certain comparative amounts have been reclassified to conform with the current period's presentation.
Share Capital
During the period under review, the Company made the following purchases of its shares on the Hong Kong Stock Exchange. These purchases were made as a result of a fall in the price of the shares. All the shares purchased were cancelled.
At 30th June 1997, 3,429,063,848 shares were in issue (30th June 1996: 3,437,413,848 shares).
Corporate governance
None of the Directors of the Company is aware of any information that would reasonably indicate that the Company is not, or was not for any part of the accounting period covered by the interim report, in compliance with the Code of Best Practice as set out in the Listing Rules of The Stock Exchange of Hong Kong Limited.
Interim report
The 1997 interim report will be sent to shareholders on 20th August 1997.
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