Group Figures
2011 - 2010
Profit Statement
|
Continuing operations:
|
|
|
| Revenue |
6,274,289 |
5,696,777 |
| Cost of sales |
(4,162,147) |
(3,708,922) |
| Gross profit |
2,112,142 |
1,987,855 |
| Trading profit/(loss) |
1,070,723 |
989,331 |
| Share of joint venture/ associated companies' profit |
69,279 |
62,879 |
| Gross income from investments |
11,549 |
18,782 |
| Profit before interest, taxation, impairment on Investments and fair value adjustment of investment properties (net) |
1,151,551 |
1,070,992 |
| Interest income/(expense) |
(53,858) |
(62,333) |
| Impairment on investments |
- |
(9,000) |
| Fair value adjustment of investment properties (net) |
140,057 |
129,411 |
| Profit before taxation & exceptional items |
1,237,750 |
1,129,070 |
| Exceptional items |
175,129 |
43,041 |
| Profit before taxation |
1,412,879 |
1,172,111 |
| Taxation |
(298,527) |
(270,398) |
| Profit from Continuing Operations after taxation |
1,114,352 |
901,713 |
| Propfit from Discontinued Operations after taxation |
- |
159,802 |
| Profit after taxation |
1,114,352 |
1,061,515 |
| |
|
|
| Attributable profit to shareholders of the Company: |
| Before fair value adjustment & exceptional items |
620,552 |
582,616 |
| Fair value adjustment of investment properties (net) |
112,955 |
99,940 |
| Exceptional items |
141,955 |
137,257 |
| After fair value adjustment and exceptional items |
875,432 |
819,813 |
| Non-controlling interests |
238,920 |
241,702 |
| Profit after taxation |
1,114,352 |
1,061,515 |
|
 |
|
|
Balance Sheet
| Share capital and reserves |
6,882,210 |
6,142,798 |
| Non-controlling interests |
838,814 |
805,661 |
| Shareholder Equity |
7,721,024 |
6,948,459 |
| Non-current assets |
|
|
| Fixed assets |
1,187,048 |
1,104,216 |
| Investment properties |
2,476,740 |
2,139,026 |
| Properties held for development |
- |
- |
| Other non-current assets |
2,610,762 |
2,546,920 |
| Total non-current assets |
6,274,550 |
5,790,162 |
| |
|
|
| Current assets |
|
|
| Properties held for sale |
4,103,882 |
4,309,185 |
| Inventories |
373,405 |
391,916 |
| Trade receivables |
961,457 |
1,021,283 |
| Other current assets |
2,059,193 |
2,010,272 |
| Total current assets |
7,497,937 |
7,732,656 |
| |
|
|
| Total assets employed |
13,772,487 |
13,522,818 |
| |
|
|
| Less: Current liabilities |
|
|
| Trade payables |
673,442 |
724,740 |
| Borrowings |
747,546 |
1,908,709 |
| Other current liabilities |
1,121,714 |
1,087,581 |
| Total current liabilities |
2,542,702 |
3,721,030 |
| |
|
|
| Net current assets |
4,955,235 |
4,011,626 |
| |
|
|
| Less: Non-current liabilities |
|
|
| Long-term borrowings |
3,215,900 |
2,666,032 |
| Other non-current liabilities |
292,861 |
187,297 |
| Total non-current liabilities |
3,508,761 |
2,853,329 |
| Net assets |
7,721,024 |
6,948,459 |
|
|
|
|
Cash Flow Statement
| Cash Flows From Operating Activities |
| Profit before taxation and exceptional items |
1,237,750 |
1,127,405 |
| Adjustments for : |
|
|
| Non-cash items |
(390,483) |
(319,485) |
| Changes in working capital |
29,574 |
(236,360) |
| Cash generated from operations |
876,841 |
571,560 |
| Interest expenses paid, net |
(37,133) |
(59,772) |
| Income taxes paid |
(267,182) |
(219,606) |
| Payment of employee benefits |
(3,313) |
(1,984) |
| Payment of cash-settled options |
(25,690) |
(129) |
| Progress payment received/receivable on properties held for sale |
2,400,451 |
1,632,867 |
| Development expenditure on properties held for sale |
(1,793,978) |
(1,508,002) |
Net cash from operating
activities |
1,149,996 |
414,934 |
| |
| Cash Flows From Investing Activities |
| Dividends from joint venture and associated companies |
71,773 |
43,982 |
| Investment income |
11,549 |
18,782 |
| Proceeds from sale of fixed assets and investment properties |
70,314 |
302,195 |
| Proceeds from sale of other investments and short term investments |
98,251 |
38,211 |
| Proceeds from disposal of business |
28,748 |
329,637 |
| Purchase of fixed assets and properties |
(348,773) |
(186,610) |
| Purchase of other investments |
(17,401) |
- |
| Acquisition of minority interests of subsidiary companies |
(7,584) |
(1,691) |
| Acquisition of joint venture companies and business |
(27,086) |
(273,552) |
| Payment for intangible assets |
(15,799) |
(33,794) |
| Development expenditure on properties held for development |
(233,481) |
(36,697) |
| Investments in joint venture and associated companies |
(37,413) |
(15,457) |
| (Additional) / Repayment of trade advances |
663 |
(3,892) |
| Net cash used in investing activities |
(406,239) |
181,114 |
| |
| Cash Flow From Financing Activities |
| (Repayment)/Proceeds from term loans and bank borrowings |
(709,944) |
(211,624) |
| Proceeds from issue of bonds |
300,000 |
- |
| Proceeds from issue of shares |
55,754 |
29,757 |
| Payment of dividends |
(460,207) |
(316,426) |
| Net cash from / (used in) financing activities |
(814,397) |
(498,293) |
| |
|
|
| Net (decrease)/increase in cash and cash equivalents |
(70,640) |
97,755 |
| Cash and cash equivalents at beginning of year |
1,695,123 |
1,623,910 |
| Reclassified to assets held for sale |
(1,383)
|
- |
| Effects of exchange rate changes on cash and cash equivalents |
(25,465) |
(26,542) |
| Cash and cash equivalents at end of year |
1,597,635 |
1,695,123 |
|
|
|
|
5-Year Review
5-Year Group Statistic - Profit Statement
| Revenue |
4,731 |
4,990 |
5,146 |
5,697 |
6,274 |
| Profit before taxation: |
|
|
|
|
|
| - before impairment, fair value adjustment & exceptional items |
661 |
701 |
737 |
1,009 |
1,098 |
| - after exceptional items |
673 |
737 |
614 |
1,172 |
1,413 |
| Profit attributable to shareholders: |
|
|
|
|
|
| - before fair value adjustment & exceptional items |
378 |
372 |
462 |
584 |
621 |
| - after exceptional items |
379 |
436 |
357 |
728 |
875 |
|
|
|
|
5-Year Group Statistic - Balance Sheet
| Net asset value |
5,221 |
5,283 |
5,585 |
6,143 |
6,882 |
| Total asset employed |
12,873 |
13,526 |
13,868 |
13,523 |
13,772 |
| Long-term borrowings |
2,477 |
3,355 |
3,608 |
2,666 |
3,216 |
| Share Price |
| At close of business on the first trading day after preliminary announcement of results ($) |
5.75 |
3.10 |
3.88 |
6.51 |
6.20 |
| Market Capitalisation ($m) |
7,955 |
4,308 |
5,408 |
9,127 |
8,745 |
| Financial Ratio (%) |
| Return on average shareholders' equity |
|
|
|
|
|
| - profit before impairment, fair value adjustment and exceptional items |
15.0 |
13.4 |
13.6 |
17.2 |
16.9 |
| - attributable profit before fair value adjustment and exceptional items |
8.6 |
7.1 |
8.5 |
10.0 |
9.5 |
Gearing ratio
- with non-controlling interest |
59.0 |
68.6 |
54.7 |
41.4 |
30.6 |
| Per Share |
| Profit before impairment, fair value adjustment,taxation and exceptional items (cents) |
50.0 |
50.5 |
53.0 |
72.2 |
78.0 |
| Attributable profit |
|
|
|
|
|
| - before fair value adjustment and exceptional items (cents) |
28.6 |
26.8 |
33.2 |
41.8 |
44.1 |
| - after exceptional items (cents) |
28.7 |
31.4 |
25.7 |
52.1 |
62.2 |
| Net asset value ($) |
3.77 |
3.80 |
4.01 |
4.38 |
4.88 |
| Dividend |
|
|
|
|
|
| - net (cents) |
13.5 |
13.5 |
13.5 |
17.0 |
18.0 |
| - cover (times) |
2.1 |
2.0 |
2.5 |
2.5 |
2.5 |
|
|
| Note |
| 1 |
Attributable profit before fair value adjustment exceptional items: Profit after taxation and non-controlling interests before fair value adjustment and exceptional items.
|
|
| |
|
| 2 |
Net asset value: Share capital and reserves.
|
|
|
| 3 |
Gearing ratio: Sum of bank borrowings and term loans, less fixed deposits and cash and bank balances, expressed as a percentage of equity.
|
|
|
|
|
| 4 |
Dividend cover: Attributable profit before fair value adjustment and exceptional items per share, divided by net dividend per share.
|
|
|
| 5 |
FY2007 and FY2008 figures are as previously reported. FY2009 and FY2010 figures are based on Continuing Operations.
|
|
|
|
Financials 
