CHAIRE ANY STATEMENT
I am pleased to present to
the shareholders my report on the operations of the
Group for the year ended
31 December 2017.
Dr. Lam Ko Yin, Colin Chairman
10
ESU S
The Group's consolidated profit after taxation for the year ended 31 December 2017 amounted to approximately HK$346 million, an increase of 46% as compared with the profit after taxation of HK$237 million last year. The earnings per share this year were HK$0.97 compared with the earnings per share of HK$0.66 in the previous year.
INDENDS
The Board of Directors has recommended the payment of a final dividend for the year ended 31 December 2017 of HK28 cents per share (2016: HK26 cents per share). Subject to shareholders' approval at the annual general meeting to be held on Monday, 28 May 2018, the final dividend will be paid on or about Thursday, 14 June 2018 to shareholders whose names appear on the register of members of the Company on Thursday, 7 June 2018. The final dividend, together with the interim dividend of HK10 cents per share already paid, will make a total distribution of HK38 cents for the full year.
BUSINESS REVIEW
During the year under review, profit for the Group was mainly derived from the sale of the residential units of Green Code and The Spectacle and the car parking spaces of Shining Heights.
Hong Kong Ferry (Holdings) Company Limited
Annual Report 2017
operty Develcedesiment Operations
During 2017, the profit of the Group from the sale of the residential units of Green Code, The Spectacle and Metro6 and car parking spaces of Shining Heights amounted to HK$129 million. The pre-sale of Harbour Park was satisfactory and over 97% of the residential units had been sold. The occupation permit has been issued in January 2018 and the flats would be handed over to the owners for occupation in the first half year of
2018.
The gross rental income from the commercial arcades of the Group amounted to approximately HK$95 million. As at the end of 2017, the commercial arcades of Shining Heights, The Spectacle and Metro6 were fully let. The occupancy rate of
commercial arcades of Metro Harbour View and Green Code
Plaza were 99% and 94% respectively.
Joint Venture Company
The construction of the Group's 50%/50% joint venture project with Empire Group Holdings Limited located at Castle Peak Road, Castle Peak Bay, Area 48, Tuen Mun, New Territories (Tuen Mun Town Lot No. 547) has been in good progress.
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