1985 — Page 22

21

Report of the Auditors

To the Members of The Hongkong and Yaumati Ferry Company, Limited

We have audited the accounts set out on pages 7 to 20 in accordance with approved Auditing Standards.

In our opinion, the accounts give a true and fair view of the state of affairs of the company and of the group at 31st December 1985 and of the profit and changes in

financial position of the group for the year ended on that date, and comply with the Companies Ordinance.

Peat, Marwick, Mitchell & Co. Certified Public Accountants

Hong Kong, 11th March 1986

Group Profit after Taxation / Total Dividends S*/&&

$ Millions

百萬元

50

40

30

20

0

1981

1982

1983

1984

1985

Group Profit after Taxation 集團除稅後溫和

Total Dividends

股息

Contributions to Group Profit before Taxation by Activities

(Including inter-company transactions)

集團各項業務之除稅前溢利分配

(包括卡集團各公司之互相貿易:

10

$ Millions

$ Millions

百萬元

百萬元

42.8

42.3

56%

30%

21%

Ferry Operations 小輪收益

35%

17%

Shipbuilding and Repairs 11914

19%

Property Investment RTI

Trading, Travel and Others TV · W LITAU

14%

8%

1984

1985

Group Profit before Taxation

集團除税前溢利