1988 — Page 9

CHAIRMAN'S STATEMENT

主席報告

RESULTS FOR 1988

I am pleased to report that the

Company's bus operating profits

attributable to Shareholders for the

financial year ended 31st December,

1988, including the amount transferred from the Development Fund of

$64.8 million in accordance with the provisions of the Scheme of Control, amounted to $261.3 million. This

represents an increase of 11.3% over $234.8 million earned from bus

operation in the previous year.

Earnings per share for the year were

65 cents (1987:58 cents as adjusted for the bonus issue made in June 1988). The total bus operating profits of

$261.3 million for the year, which was arrived at after the transfer of $64.8

million representing the whole of the

balance of the Development Fund, falls

short of the Permitted Return by

$1.93 million. The shortfall is

recoverable from the Development

Fund in subsequent years.

DIVIDEND

At the forthcoming Ordinary Yearly

Meeting, your Directors will

recommend the payment of a final

dividend of 32 cents per share for the

year ended 31st December, 1988

(1987:28 cents per share after

adjustment for the bonus issue made in

June 1988). An interim dividend of 13

cents per share was paid on 14th

October, 1988(1987:12 cents per

share after adjustment for the bonus

issue made in June 1988), therefore the

dividends for the year will amount

to 45 cents per share totalling $181.6 million.

一九八八年業績

本人以欣悅心情宣佈截至一九八八年

十二月三十一日止之財政年度本公司股東 應佔經營巴士盈利(包括根據盈利管制

計劃規定自發展基金轉撥之六仟四佰八十

-- 萬元)為二億六千一百三十萬元。此數目

較去年經營巴士賺取之二億三仟四佰八十

萬元,增加百分之十一點三。本年度每股

盈利為六角五仙(按一九八八年六月派發

紅股而作調整後,一九八七年度之每股

盈利為五角八仙 )。

本年度之經營巴士盈利總額二億六千

一佰三十萬元,乃於轉撥發展基金全部

餘額之六千四百八十萬元後計算得出。

此盈利總額與許可盈利比較,尙欠一佰

九十三萬元。不敷之數將於其後年度自

發展基金撥付。

股息

在即將舉行之股東週年大會上,董事會將

建議派發截至一九八八年十二月三十一日

止年度之末期息每股三角二仙(按

一九八八年六月派發紅股而作調整後,

一九八七年度之末期息每股二角

八仙)。本年度中期息每股一角三仙(按

一九八八年六月派發紅股而作調整後,

一九八七年度之中期息每股一角

二仙 ),已於一九八八年十月十四日

派發。因此全年派息為每股四角五仙,

總數為一億八千一百六十萬元。

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