Cathay Pacific 2007 Annual Report Download - page 27

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28%
Current assets
7%
Intangible assets
49%
Aircraft and related equipment
4%
Buildings and other equipment
12%
Long-term investments
Total assets
• Overall demand for the HAECO group’s services
continued to be strong in 2007 and the group is
steadily expanding its facilities to support further
growth. Its third hangar at HKIA is under
construction with opening expected in mid-2009.
TAECO’s fifth hangar was opened in June 2007
and a sixth hangar is under construction with
operation scheduled for the second half of 2009.
TALSCO is constructing a landing gear overhaul
facility in Xiamen to open in mid-2008. Furthermore
HAESL has opened an additional 3,000 square
metre workshop which will commence operation
in March 2008.
• The group’s headcount increased by 1,580 to
approximately 11,700 in 2007 to support expansion
and further staff are being recruited and trained to
cope with the anticipated future growth.
Taxation
• Despite a substantial increase in profits, the tax
charge increased by only HK$17 million to HK$799
million mainly due to reduced provisions for
prior years.
Dividends
• Dividends paid and proposed for the year are
HK$3,310 million representing a dividend cover
of 2.1 times.
• Dividends per share remain at HK¢84.
Financial Review
Assets
• Total assets as at 31st December 2007 were
HK$117,650 million.
• During the year, additions to fixed assets were
HK$9,755 million, comprising HK$9,501 million for
aircraft and related equipment and HK$254 million
for other equipment.
Cathay Pacific Airways Limited Annual Report 2007 25