Annual Report 2021

Consolidated Results The Group’s revenue for the year amounted to HK$1,247 million (2020: HK$1,315 million), a decrease of 5.1% against last year. Profit attributable to shareholders for the year was HK$330 million (2020: HK$302 million) with a year-on-year increase of 9.3%. The aforesaid outcome is mainly caused by the decrease in revaluation loss on fair value of investment properties compared with last year, and the increase in income attributable to the Group’s hotel & serviced apartments business and food & beverage business compared with last year. The underlying profit attributable to shareholders (excluding the net decrease in the fair value of investment properties by HK$112 million (2020: net decrease of HK$152 million) and the net gain on disposal of non-core properties of HK$19 million (2020: Nil)) dropped by 6.8% to HK$423 million, year- on-year (2020: HK$454 million). The underlying earnings per share is HK$0.61 (2020: HK$0.66). Final Dividend The Board recommends a final dividend of HK26 cents per share to the shareholders listed on the Register of Members at the close of business on 17 June 2022 (Friday). The proposed final dividend is expected to be distributed to shareholders on 8 July 2022 (Friday). Adding up with an interim dividend of HK20 cents per share paid on 13 October 2021, the total dividend payment for the whole year will be HK46 cents per share. Overview More than two years have passed since the initial outbreak of covid-19 pandemic. Intermittent surges of the pandemic and emergences of variant strains have destabilized the global economy. Governments around the world have kept anti-pandemic measures up in response. Hong Kong’s local economy rebounded slightly as the pandemic in its fourth wave then was put under control during the middle of last year, which successfully drove up overall consumption sentiments, bringing about a respectable business revival to the Group’s hotel & serviced apartments and food & beverage operations. However, early in 2022, the outbreak of the fifth wave dealt a heavy blow to local economic and social functioning once again with the local government following up with the strictest ever social-distancing rules, afflicting the Group’s businesses. Chairman andCEO’s Statement 006 Chairman and CEO’s Statement