1987 — Page 42

3 PROFIT BEFORE TAXATION

NOTES ON THE ACCOUNTS

Profit before taxation is arrived at after charging:—

1987

HK$'000

1986 HK$'000

Depreciation

159.560

123,306

Auditors' remuneration

440

377

Interest payable on:

Bank loans, overdrafts and loans repayable

within 5 years

39,518

Balance of premium on land

338

27,726 409

4 DIRECTORS' REMUNERATION

Directors' remuneration disclosed pursuant to Section 161 of the Companies Ordinance is as follows:

Services as Directors

Other emoluments

5 TAXATION

1987

HK$'000

1986 HK$'000

982

1,038

656

615

1,638

1,653

1987

1986

HK$'000

HK$'000

a Taxation in the profit and loss account represents: Provision for Hong Kong profits tax at 18%

(1986-18.5%) on the profits of the year Overprovision in respect of prior years

14,300

5,100

(822)

13,478

5,100

b Taxation in the balance sheet represents:-

Provision for Hong Kong profits tax for the year

14,300

5,100

Provisional profits tax paid

(3,135)

(3,953)

11,165

1,147

Balance of profits tax provision relating to prior years Less: Tax Reserve Certificate purchased under order

6,892

6,910

of the Commissioner of Inland Revenue

(6,892)

(6,892)

11,165

1,165

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