FINANCIAL REVIEW
Number of buses
Million
1,200
1,000
800
Number of passengers
In
600.
400
1991
1992
1993
1994
1995
Distance operated
Million km
300
250
200
150
100
50
1991
1992
1993
1994
Capital expenditure
FIKSM
600
500
400
300
200
100
3,500
· 3,000
2.500
2.000
1,500
1991
1992
Buses & other motor vehicles
Others
1995
1993
1994
Buildings
1995
Number of buses and bus fleet capacity
440,000
420,000
400,000
380,000
360,000
Bus Reet capacity
by the Company's buses totalled 271 million kilometres (1994
- 255 million kilometres). The increase in distance travelled
was primarily due to the introduction of additional routes as
well as improved frequencies on certain routes.
Liquidity and Financial Resources
In 1995, the net cash inflow from bus operations was HK$970
million (1994 - HK$768 million). Total dividends paid to
shareholders during the year amounted to HK$331 million
(1994 - HK$1,820 million). Payments for capital investment
and repayment of bank loans amounted to HK$508 million
and HK$129 million respectively.
The cash flow statement of the Company for the year ended 31
December 1995 is set out on pages 43 and 44 of this Annual
Report.
At 31 December 1995, the total borrowings of the Company amounted to HK$438 million, representing an increase of
HK$52 million as compared with 1994. The gearing ratio,
representing the ratio of long term bank loans to the total
share capital and reserves of the Company, also increased
from 0.16 in 1994 to 0.2 in 1995. As a result of the increase in
total borrowings, the finance charge for the year increased by
1.8 per cent to HK$28.9 million as compared with HK$28.4
million in 1994. At 31 December 1995, cash and deposits at
bank amounted to HK$482 million.
At 31 December 1995, the Company had stand-by credit
facilities totalling HK$90 million and GBP 1 million. Bank
loans and overdrafts at the year end amounted to HK$438
million, of which HK$117 million was secured on the
Company's undertakings to execute legal mortgages to certain
1,000
500
1992
1993
1994
1995
Non air-conditioned buses
1991
Air-conditioned buses
Bus fleet caparity
THE KOWLOON MOTOR BUS COMPANY (1933) LIMITEDI
340,000
320,000
300,000
17