Annual Report 2019

012 Transport International Holdings Limited 2019 Annual Report Chairman’s Letter paid on 15 October 2019, the total dividend for the year will be HK$1.00 per share. Financial Performance in 2019 The Kowloon Motor Bus Company (1933) Limited (“KMB”) recorded a profit after taxation of HK$314.9 million, representing a decrease of HK$119.4 million compared with HK$434.3 million for 2018. The enhancement of staff remuneration and benefits led to an increase in staff costs, which together with the additional investment in safety measures for the bus fleet, contributed to an increase in operational costs. In 2019, the Hong Kong Government launched the Public Transport Fare Subsidy Scheme to ease the financial burden on citizens and encourage them to commute. In the second half of 2019, even though Hong Kong’s transport system was severely affected by social events, KMB did its best to maintain services. Passenger numbers remained stable and on a par with 2018. On behalf of the Board of Directors, I would like to report that the Group’s profit attributable to equity shareholders for the year ended 31 December 2019 was HK$605.3 million, a decrease of 15.9% compared to HK$720.1 million for 2018. Dividends The Board of Directors has proposed an ordinary final dividend of HK$0.70 per share to be paid on 30 June 2020. Together with the ordinary interim dividend of HK$0.30 per share Staff members of the Group have demonstrated their commitment to their work, and this dedication has been acknowledged by the public. Dear Shareholders,