16
Report of the Directors
The directors have pleasure in submitting their report and audited accounts for the year ended
31 December 1999.
PRINCIPAL ACTIVITIES
The principal activities of the Group were ferry operations and related businesses, property development and investment, trading and services, travel business and hotel operations. The
turnover and contribution to profit from operations after finance cost of the principal activities of
the Group are as follows:
Ferry operations and
Contribution to profit
from operations after
Group turnover
1999
finance cost
1998
1999
1998
HK$ million
HK$ million
HK$ million
HK$ million
related businesses
357.5
601.0
(2.1)
(12.5)
Property development
and investment
259.8
83.8
86.3
54.9
Trading and services
143.0
151.8
2.3
4.2
Travel and others
128.9
127.0
(5.0)
(9.5)
Net interest income
43.3
96.6
889.2
963.6
124.8
133.7
No geographical analysis is shown as less than 10% of the Group's turnover and profit from
operations after finance cost are derived from activities outside Hong Kong.
MAJOR SUPPLIERS AND CUSTOMERS
No analysis in respect of the Group's major suppliers and customers is shown as the percentages
of turnover attributable to the Group's five largest customers and purchases attributable to the
Group's five largest suppliers are less than 30%.
SUBSIDIARIES
Details of the principal subsidiaries at 31 December 1999 are set out in note 14 on the accounts.
ACCOUNTS AND DIVIDENDS
The results of the Group for the year ended 31 December 1999, the state of affairs of the Company
and of the Group at that date and the related notes are set out in the accounts on pages 23 to
57.