Cathay Pacific 1999 Annual Report Download - page 36

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40 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
Notes to the Accounts – Profit and Loss Account
1. Nature of operations and principal activities
The Cathay Pacific Group (“the Group”) is predominantly managed and controlled in Hong Kong. As well
as operating scheduled airline services, the Group is engaged in other related areas, including aircraft engineering
and airline catering. The airline operations are principally to and from Hong Kong, which is where most of the
Group’s other activities are also carried out.
2. Turnover
Turnover comprises revenue from transportation services, airline catering and other services provided to
third parties.
(a) Primary reporting by geographical segment
Turnover
by origin of sale
1999 1998
HK$M HK$M
North Asia:
Hong Kong and Mainland China 10,434 9,539
Japan, Korea and Taiwan 6,101 5,148
Europe 3,849 3,852
Pacific and South Africa 5,038 5,027
South East Asia and Middle East 3,280 3,044
28,702 26,610
Europe includes Continental Europe, United Kingdom, Scandinavia, Russia, Baltic and Turkey. Pacific
and South Africa includes U.S.A., Canada, Latin America, Australia, New Zealand, Fiji, Southern Africa and
Mauritius. South East Asia and Middle East includes Singapore, Indonesia, Malaysia, Thailand, Indian
sub-continent and Middle East.
Analysis of turnover and profit by geographical segment:
The analysis of turnover by origin of sale is derived by allocating revenue to the area in which the sale was
made. Management considers that it is not meaningful to allocate cost on this basis and accordingly segment
results are not disclosed.
Analysis of net assets by geographical segment:
The major revenue-earning asset of the Group is the aircraft fleet which is registered in Hong Kong and
is employed across its worldwide route network. Management considers that there is no suitable basis for
allocating such assets and related liabilities to geographical segments. Accordingly, segment assets, segment
liabilities and other segment information is not disclosed.