W
The Hongkong Electric Group
Public Affairs Department
Electric House, 44 Kennedy Road, Hong Kong
Telephone: 5-8433111. Telex: HX73071. Cables: Electric. Facsimile: 5-8100506
Press Release (M) (新聞稿)
HONGKONG ELECTRIC HOLDINGS LIMITED
KONG
AA
BROUP
LECTRIC
EL
1988 Interim Report
Half Year Results
The unaudited consolidated profit of the Group, after taxation and Scheme of Control transfers, for the first six months of 1988 amounted to HK$624.6 million. Although this result is 9% above the same period last year, the 1988 performance is in fact considerably stronger, showing a 32% increase if the HK$99.8 million deferred profit release is excluded from the 1987 comparative figure.
The unaudited consolidated profit and loss account as at 30th June, 1988 is set out below :-
Summary of Results
Six Months Ended 30th June
1988 ($ Million)
1987 ($ Million)
Turnover
Profit before taxation Taxation
Profit after taxation
1.477.1
1.321.0
760.0
719.6
77.4
____ 74.1
682.6
645.5
Scheme of Control transfers
58.0
71.1
Profit attributable to shareholders
624.6
574.4
Interim dividend
386.1
302.2
Retained profit
238.5
272.2
Earnings Per Share
Interim Dividend Per Share
34 cents
36 cents
21 cents
19 cents
Note 1.
The Scheme of Control transfers of $58 million are a mid year notional transfer. The actual Scheme of Control transfers will be determined at the end of the year when the final results are known.
2. Earnings and Dividends Per Share for 1987 have been
adjusted for the Rights Issue made in November, 1987.