Financial Review and Analysis财政回顾及分析.pdfVIP

Financial Review and AnalysisFinancial Review and Analysis Review of Consolidated Financial Results for the 6 months ended 30 June 2001 The historical figures in this Financial Review and Analysis have been adjusted to comply with the requirements of the new or revised Hong Kong Statements of Standard Accounting Practices implemented in 2001. The changes to the Group’s accounting 281 policies are set out in Note 1 to the accounts on page 28. These adjustments are merely book entries and have no implication for the actual value of the Company’s assets, or its cashflow. In the first six months of 2001, these new accounting policies have increased dividend income by HK$26 million and increased the amortisation of goodwill by HK$91 million, a net decrease in net profit of HK$65 million. Had these new accounting policies been applied in 2000, dividend income would have been HK$107 million less and the amortisation of goodwill HK$87 million higher, a net decrease in net profit of HK$194 million. For ease of year to year comparison and appreciation of the underlying trend, the profit made on the sale of shares in Hong Kong Telecom and Dragonair in 1996 and 1997 of HK$3,298 million and HK$3,236 million respectively are excluded from the chart of Attributable Profit and Contribution. Therefore they do not reconcile directly to the audited accounts. 8 Attributable Profit HK$million 1996 3,471 1997