CMB_1998_Copy2 — Page 20

Consolidated Profit and Loss Account for the Year Ended 30th June, 1998

(Expressed in Hong Kong dollars)

TURNOVER

OPERATING PROFIT

EXCEPTIONAL ITEMS

PROFIT FROM ORDINARY ACTIVITIES

SHARE OF PROFITS OF ASSOCIATED COMPANIES

PROFIT BEFORE TAXATION

TAXATION

PROFIT AFTER TAXATION AND ATTRIBUTABLE TO SHAREHOLDERS UNCLAIMED DIVIDENDS FORFEITED IN ACCORDANCE WITH ARTICLE 166

RETAINED PROFITS AT 1ST JULY

APPROPRIATIONS:-

Transfer to general reserve Dividends

RETAINED PROFITS AT 30TH JUNE

Earnings per share of $2

RETAINED BY:-

The

and its subsidiaries

company Associated companies

NOTE

1998

$000's

1997

$000's

2

859,817

833,029

34

211,886

68,238

(98,227)

339,202

113,659

407,440

73,085 2,778,807

186,744

3,186,247

6(a)

(9,441)

(464,893)

177,303 112

2,721,354

198

177,415 3,228,615

2,721,552 785,881

3,406,030 3,507,433

15

57

(10,000) (203,580)

(10,000) (268,818)

(213,580) (278,818)

15

$3.83

3,192,450 3,228,615

$58.82

3,056,306

1,673,002

136,144 1,555,613

3,192,450 3,228,615

The calculation of earnings per share is based on earnings of $177,303,000 (1997: $2,721,354,000) and 46,268,256 ordinary shares in issue.

The notes on pages 21 to 32 form part of these accounts.

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