1995 — Page 16

主席報告 Chairman's Statement

HKF

溢利

本集團截至一九九五年十二月三十一日止財政年度之除 稅及包括特殊項目二億六千六百五十萬港元(見下詳述) 之純利,為三億五千五百八十萬港元,一九九四年度上 升百分之一百七十三。每股盈利為九十九點九仙,而一 九九四年為四十七點二仙。惟若不包括特殊項目,本集 截至一九九五年十二月三十一日止財政年度之除稅前 經營溢利為一億一千六百七十萬港元,較一九九四年度 下跌百分之二十七。

股息

董事會建議派發末期股息每股二十九仙。此末期股息, 連同已派發之中期股息每股八仙,全年合共派發三十七 仙。

業務回顧

渡輪業務

本年度內,渡輪業務虧損一億一千九百六十萬港元。由 於中環渡輪碼頭需要搬遷,及受到其他交通工具之競 爭,本地渡輪乘客量下降百分之九。自一九九五年三月 開始,往佐敦、新市鎮及離島各線舊碼頭分批遷往中環 填海區之新碼頭。由於地點較遙遠,渡輪收入、廣告及 舖位之收益均告下跌。

本集團全資附屬公司香港油蔴地小輪船有限公司(「油 蔴地」)於年度內申請增加票價百分之十三點九,相對 上次加價已達十八個月之久,惟部份議員於立法局內動 議凍結加價,尤幸該議案不獲通過,加價已經於一九九 六年一月生效,但本年度之渡輪業績,已因成本上漲、 劇烈競爭引致收入減縮及年內沒有調整票價而陷入嚴重 虧損。

雖然面對如此不利因素,油蔴地仍致力改善服務,例如 加強早上屯門往中環線之雙體船服務,為青衣區居民提 供飛翔船服務及成立乘客聯絡小組及意見坊以加強與乘 客溝通等等。渡輪服務在香港交通系統內,有著替代工 具之重要作用,於一九九五年屯門公路山泥傾瀉時,該 作用得以-

份發揮,在公路封閉及屯門市交通面臨癱瘓 之際,本公司迅速安排渡輪加班服務,疏導區內交通, 於最繁忙當天,接載六萬五千名乘客,屯門市交通因而 得以舒緩。

地產投資

因為工廈租金市況疲弱,毛租金收入輕微下跌百分之四 至一億二千一百六十萬港元。

PROFIT

The Group's audited net profit after taxation for the financial year ended 31 December 1995, after taking into account of the exceptional item of HK$266.5 million as detailed below, amounted to HK$355.8 million, representing an increase of 173% over that of 1994. Earnings per share were 99.9 cents as compared with 47.2 cents in 1994. However, the Group's operating profit for the financial year ended 31 December 1995, before taking into account of the exceptional item and taxation, was HK$116.7 million, representing a decrease of 27% as compared with 1994.

DIVIDEND

The Board of Directors recommended a final dividend of 29 cents per share. This dividend, together with the interim dividend of 8 cents per share already paid, will make a total distribution of 37 cents for the full year.

BUSINESS REVIEW

Ferry Operations

The ferry operations have recorded an operating loss of HK$119.6 million for the year 1995. Patronage of local ferry operations suffered a decline of 9% due to the relocation of the Central ferry piers as well as competition from other modes of transportation. Commencing March 1995, the old Central ferry piers serving Jordan Road, the new towns and the outlying islands have been relocated by stages to the new reclamation area. Due to the inconvenient location, revenues from the related ferry operations, advertisement and kiosk all decreased.

The application by The Hongkong and Yaumati Ferry Company Limited (“HYF"). our wholly-owned subsidiary, during the year to increase local ferry fares by 13.9% over a previous 18-month period became the subject of a debate in the Legislative Council. The motion to freeze the increase was defeated and the fare increase took effect in January 1996. However, during the year 1995, increased costs, reduced revenues due to keen competition and the absence of a fare increase resulted in substantial losses in ferry operations.

Notwithstanding the difficult operating condition, HYF is continuing its efforts to improve services, such as the increase of catamaran service from Tuen Mun to Central in the morning peak hours, the provision of hoverferry service for Tsing Yi residents, the improvement in customer relationship through Passenger Liaison Group and Meet-the-passengers sessions, etc. In 1995, our ferry services as an important alternative means of transportation was evidenced in the landslide incidents near Tuen Mun, during which time traffic in and out of the new town was at the risk of paralysis due to the closure of the Tuen Mun Highway. HYF arranged extra ferry services during the emergency period, providing transportation to 65,000 passengers a day and thereby relieving the traffic needs of the area.

Property Investment

Due to softening rentals in the industrial property market, gross

rental income from the properties slightly decreased by 4% to HK$121.6 million in the year under review.

- 14 -