Interim Report 2015/2016
NOTES TO CONDENSED ACCOUNTS
29
4 Operating profit
Operating profit of the Group is arrived at after crediting/(charging) the following:
For the six months ended
31 December
2015
2014
HK$m
HK$m
Write back of provision for loans and other receivable
131.2
343.0
Gain on partial disposal of interests in subsidiaries and remeasurement
of retained interest at fair value after reclassification to a joint venture
40.0
–
Loss on remeasurement of previously held interests of a joint venture
at fair value upon further acquisition to become a subsidiary
(8.0)
–
Net profit/(loss) on disposal/liquidation of
Available-for-sale financial assets, financial assets at fair value
through profit or loss and a derivative financial instrument
113.5
25.5
Investment properties, property, plant and equipment and
intangible concession rights
67.9
(8.7)
Subsidiaries
95.0
10.1
Assets held for sale
783.9
30.3
Net gain on fair value of financial assets at fair value through profit or loss
148.2
16.9
Cost of inventories and properties sold
(14,546.2)
(8,920.4)
Cost of services rendered
(8,415.2)
(7,830.0)
Depreciation and amortisation
(1,042.9)
(1,104.7)
Impairment charge and provision
–
(56.5)
Net exchange (loss)/gain
(1,565.3)
67.3
5 Taxation
For the six months ended
31 December
2015
2014
HK$m
HK$m
Current taxation
Hong Kong profits tax
548.9
403.9
Mainland China and overseas taxation
865.9
756.4
Mainland China land appreciation tax
213.2
698.7
Deferred taxation
124.4
82.1
1,752.4
1,941.1
Hong Kong profits tax has been provided at the rate of 16.5% (2014: 16.5%) on the estimated assessable profit for
the period.
