The tables and graphs below give an analysis of the turnover and the contribution to profit for the year, after the elimination of net exceptional items:
Increased turnover and contribution in Asia reflects the strong organic growth experienced by the Group's telecommunications and marketing and distribution businesses, particularly Pacific Link which doubled its turnover and contribution, and Tech Pacific which grew its turnover and contribution by 61.1 per cent and 50.0 per cent respectively. The growth in Asia was achieved in spite of reduced property profits in 1995. Increased turnover and contribution in Europe is entirely attributable to Hagemeyer which benefited from the inclusion of Borsumij's European consumer products businesses from October, and strong growth in its European wide electrotechnical division. Contribution from the Americas was reduced partly because of the disposal of USB with effect from July 1995, and partly due to lower contribution from Hagemeyer's North American consumer electronics businesses which faced tough competition and severe margin pressure in 1995. Turnover in the Americas increased, however, because of the contribution from Borsumij's Latin American businesses from October 1995.
Within Asia, Hong Kong continues to be the most significant contributor to the Group's profit in the region. Contribution from the Philippines has grown due to the strong contribution from Smart and from Metro Pacific's property development business.
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