Annual Report 2021

92 Transport International Holdings Limited 2021 Annual Report FINANCIAL REVIEW The Group Summary of Financial Performance 2021 2020 Favourable/(Unfavourable) Change HK$ million HK$ million HK$ million % Revenue 7,202.0 6,190.9 1,011.1 16.3 Other income 254.0 1,249.6 (995.6) (79.7) Operating expenses (7,197.4) (7,193.5) (3.9) (0.1) Profit from operations 258.6 247.0 11.6 4.7 Finance costs (14.4) (26.9) 12.5 46.5 Gain on disposal of a subsidiary – 1,495.5 (1,495.5) (100.0) Share of profits of associates 19.6 6.5 13.1 201.5 Share of profit of joint venture 8.3 – 8.3 N/A Profit before taxation 272.1 1,722.1 (1,450.0) (84.2) Income tax (expense)/credit (27.1) 182.0 (209.1) (114.9) Profit for the year 245.0 1,904.1 (1,659.1) (87.1) Earnings per share (HK$) 0.53 4.21 (3.68) (87.4) Review of 2021 Financial Performance The Group’s Results for the Year The Group’s profit attributable to equity shareholders for the year ended 31 December 2021 was HK$245.0 million (2020: HK$1,904.1 million), representing a decrease of HK$1,659.1 million compared with 2020. The decline was mainly due to the one-off non-recurring net gain of HK$1,495.5 million in 2020. Total revenue increased by 16.3% from HK$6,190.9 million in 2020 to HK$7,202.0 million in 2021 due to a rebound in patronage. Profit from operations improved by 4.7% from HK$247.0 million in 2020 to HK$258.6 million in 2021. Earnings per share decreased correspondingly from HK$4.21 for 2020 to HK$0.53 for 2021. Return on Average Net Fixed Asset Employed (exclude property development) Average net fixed asset Return on average net fixed asset Note: Excluding a non-recurring net gain amounting to HK$1,495.5 million arising from the revaluation and disposal of 50% equity interest in TM Properties Investment Limited Dividends per Share 0.4 0.8 1.2 1.6 2017 2018 2019 2020 2021 0 HK$ 4,000 2,000 6,000 8,000 10,000 2017 2018 2019 2020 2021 0 10 5 15 20 25 0 HK$ million Percent % (Note)