Annual Report 2020

104 Consolidated Statement of Profit or Loss Annual Report 2020 Miramar Hotel and Investment Company, Limited Consolidated statement of profit or loss for the year ended 31 December 2020 Note 2020 2019 HK$’000 HK$’000 Revenue 9 1,314,605 3,061,704 Cost of inventories (68,911) (134,043) Staff costs 3(a) (382,991) (473,269) Utilities, repairs and maintenance and rent (91,742) (133,716) Tour and ticketing costs (145,170) (1,156,752) Gross profit 625,791 1,163,924 Other revenue 192,235 161,928 Operating and other expenses 3(d) (165,836) (214,927) Depreciation 10(a) (89,806) (132,601) 562,384 978,324 Finance costs 3(b) (3,320) (3,944) Share of profits less losses of associates 12 202 129 559,266 974,509 Other non-operating net gain 3(c) 1,055 2,423 Net (decrease)/increase in fair value of investment properties 10(a) (152,016) 503,945 Profit before taxation 3 408,305 1,480,877 Taxation Current 4(a) (91,983) (138,097) Deferred 4(a) (7,383) (5,948) Profit for the year 308,939 1,336,832 Attributable to: Shareholders of the Company 301,899 1,288,227 Non-controlling interests 7,040 48,605 308,939 1,336,832 Earnings per share Basic 8(a) HK$0.44 HK$1.86 Diluted 8(a) HK$0.44 HK$1.86 The notes on pages 113 to 175 form part of these financial statements. Details of dividends payable to shareholders of the Company attributable to the profit for the year are set out in note 7(a).