TNAG-1730-FCO40-2443-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 25

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Speech by the Honourable the Financial Secretary

in Legislative Council Wednesday 11 May 1988

Kowloon-Canton Railway Corporation

Annual Report and Accounts 1987

FINANCIAL SECRETARY:

Sir,

Kowloon-Canton

accordance

Railway

with section 4(5) of the

Corporation Ordinance, Chapter

372 the annual report and accounts of the Kowloon-Canton

Railway Corporation for the year ending 31 December 1987

are tabled today.

1987

wa.s

a

Kowloon-Canton

Railway

successful

Corporation.

year

for

the の

Profitability

improved substantially and all revenue generating

activities showed healthy growth. A net profit of $276

million was achieved. This was more than twice the $117

million achieved in 1986, and the $47 million loss

accumulated since the formation of the Corporation in 1983.

was thus eliminated. Total revenue for the year amounted

to $964 million, 31 higher than that for 1986. The

Corporation's current and non-current liabilities at year

end were $394 million and $191.2 million respectively.

per

26.

Cent