Cathay Pacific 1999 Annual Report Download - page 35

Download and view the complete annual report

Please find page 35 of the 1999 Cathay Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 65

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65

39CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
Statement of Recognised Gains and Losses
for the year ended 31st December 1999
1999 1998
HK$M HK$M
Exchange differences on cash flow hedges
– recognised during the year 48 (618)
– transferred to the profit and loss account 71 65
Revaluation surpluses
– recognised during the year 422 895
– transferred to the profit and loss account (482) –
Exchange differences on foreign investments 4(9)
Net gains not recognised in the profit and loss account 63 333
Profit/(loss) attributable to shareholders 2,191 (542)
Total recognised gains/(losses) 2,254 (209)
Movement of goodwill taken directly to reserves (5) (1)
2,249 (210)
Reconciliation of Movements in Shareholders’ Funds
for the year ended 31st December 1999
1999 1998
HK$M HK$M
Shareholders’ funds at beginning of the year 25,795 26,363
Total disclosed in statement of recognised gains and losses 2,249 (210)
Transactions with shareholders:
– Dividends paid and proposed (1,016) (339)
– Payment for purchase of Company’s shares –(19)
Shareholders’ funds at end of the year 27,028 25,795
The notes on pages 40 to 63 form part of these accounts.