Annual Report 2025

186 Transport International Holdings Limited 2025 Annual Report CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the year ended 31 December 2025 (Expressed in Hong Kong dollars) 2025 2024 Note $’000 $’000 Revenue 3 & 12 8,442,725 8,215,353 Other net income 4 135,758 112,399 Staff costs 5(a) (4,595,456) (4,430,971) Depreciation (1,183,432) (1,196,260) Fuel and oil (864,369) (966,132) Spare parts (251,831) (227,168) Toll charges (91,499) (210,999) Other operating expenses (904,318) (884,566) Profit from operations 687,578 411,656 Change in fair value of investment properties and investment property under development 14(a) (141,827) (78,200) Finance costs 5(b) (61,321) (98,343) Share of profits of associates 31 637 Share of profit of joint venture 8,801 8,552 Profit before taxation 5 493,262 244,302 Income tax expense 6(a) (95,240) (57,020) Profit for the year 398,022 187,282 Earnings per share based on profit attributable to equity shareholders (reported earnings per share) Basic and diluted 10(a) $0.77 $0.37 Earnings per share excluding the effect of change in fair value of investment properties and investment property under development (underlying earnings per share) Basic and diluted 10(b) $1.04 $0.53 The notes on pages 194 to 262 form part of these consolidated financial statements. Details of dividends paid and payable to equity shareholders of the Company attributable to the profit for the year are set out in note 11.