Annual Report 2020

196 Transport International Holdings Limited 2020 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 12 Segment reporting (continued) (a) Segment results, assets and liabilities For the purposes of assessing segment performance and allocating resources between segments, the Group’s CODM monitors the results, assets and liabilities attributable to each reportable segment on the following bases: Revenue and expenses are allocated to the reportable segments with reference to the revenue generated and expenses incurred by those segments. The measure used for reporting segment profit is net profit after taxation, adjusted for head office or corporate administration costs which are not specifically attributable to individual segments. Inter-segment revenue is priced with reference to the price charged to external parties for similar transactions. Segment assets and segment liabilities include all current and non-current assets and liabilities, respectively, which are directly managed by the segments. Information regarding the Group’s reportable segments for the years ended 31 December 2020 and 2019 is set out below. Franchised bus operation Property holdings and development All other segments Total 2020 2019 2020 2019 2020 2019 2020 2019 $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 Revenue from external customers 5,909,703 7,732,512 72,847 66,972 208,330 312,717 6,190,880 8,112,201 Inter-segment revenue 14,308 971 5,759 5,717 8,366 9,696 28,433 16,384 Reportable segment revenue 5,924,011 7,733,483 78,606 72,689 216,696 322,413 6,219,313 8,128,585 Reportable segment profit 203,285 368,022 1,548,289 54,792 47,310 60,261 1,798,884 483,075 Interest income 421 1,560 – – – – 421 1,560 Interest expense (26,933) (32,182) – – – – (26,933) (32,182) Depreciation (944,057) (916,600) (6,744) (6,636) (42,218) (43,371) (993,019) (966,607) Staff costs (4,233,612) (4,385,633) – – (95,921) (121,295) (4,329,533) (4,506,928) Share of profits of associates – – – – 6,525 21,544 6,525 21,544 Share of profit of joint venture – – 35 – – – 35 – Gain on disposal of a subsidiary (note 35) – – 1,495,548 – – – 1,495,548 – Income tax credit/(expense) 195,651 (72,950) (10,213) (10,756) (3,480) (10,306) 181,958 (94,012) Reportable segment assets 10,475,512 9,582,826 3,867,664 2,649,389 1,782,501 1,800,413 16,125,677 14,032,628 – including interest in associates – – – – 656,610 611,852 656,610 611,852 – including interest in joint venture – – 750,547 – – – 750,547 – Additions to non-current segment assets during the year 1,312,179 1,025,751 474,769 232,926 7,688 28,191 1,794,636 1,286,868 Reportable segment liabilities 4,380,771 4,035,344 1,611,224 1,555,638 87,499 121,235 6,079,494 5,712,217