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46 Cathay Pacific Airways Limited Annual Report 2005
Consolidated Profit and Loss Account
for the year ended 31st December 2005
2005 2004 2005 2004
Note HK$M HK$M US$M US$M
Turnover
Passenger services 30,274 26,407 3,881 3,386
Cargo services 12,852 11,395 1,648 1,461
Catering, recoveries and other services 7,783 4,959 998 635
Total turnover 1 50,909 42,761 6,527 5,482
Expenses
Staff (9,025) (8,842) (1,157) (1,134)
Inflight service and passenger expenses (2,033) (1,758) (261) (225)
Landing, parking and route expenses (6,947) (6,121) (891) (785)
Fuel (15,588) (9,321) (1,999) (1,195)
Aircraft maintenance (4,527) (3,784) (580) (485)
Aircraft depreciation and operating leases (4,893) (4,379) (627) (561)
Other depreciation and operating leases (790) (814) (101) (104)
Commissions (555) (529) (71) (68)
Others (2,408) (1,966) (309) (252)
Operating expenses (46,766) (37,514) (5,996) (4,809)
Operating profit 2 4,143 5,247 531 673
Finance charges (1,605) (1,628) (206) (209)
Finance income 1,161 1,045 149 134
Net finance charges 3 (444) (583) (57) (75)
Share of profits of associates 11 269 298 35 38
Profit before tax 3,968 4,962 509 636
Taxation 4 (500) (446) (64) (57)
Profit for the year 3,468 4,516 445 579
Profit attributable to
Cathay Pacific shareholders 5 3,298 4,417 423 566
Minority interests 170 99 22 13
3,468 4,516 445 579
Dividends
Interim – paid 6 676 674 87 86
Final – proposed 6 947 1,520 121 195
1,623 2,194 208 281
Earnings per share
Basic 7 97.7¢ 131.4¢ 12.5¢ 16.8¢
Diluted 7 97.4¢ 130.7¢ 12.5¢ 16.8¢
Dividend per share 6 48.0¢ 65.0¢ 6.2¢ 8.3¢
The accounts are prepared and presented in HK$, the functional currency. The US$ figures are shown only as supplementary
information and are translated at HK$7.8.
The notes on pages 54 to 85 form part of these accounts.