Cathay Pacific 2002 Annual Report Download - page 65

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62 Cathay Pacific Airways Limited Annual Report 2002
2002 2001 2000
Consolidated profit and loss summary
HK$M
Passenger services 22,376 20,580 22,878
Cargo services 9,387 8,343 10,136
Catering and other services 1,327 1,513 1,509
To t al turnover 33,090 30,436 34,523
Operating expenses (28,340) (29,604) (29,234)
Operating profit/(loss) 4,750 832 5,289
Net finance charges (743) (571) (367)
Profit on sale of investments
-
452
-
Share of profits of associated companies 324 188 279
Profit/(loss) before taxation 4,331 901 5,201
Taxation (328) (202) (110)
Profit/(loss) after taxation 4,003 699 5,091
Minority interests (20) (42) (86)
Profit/(loss) attributable to shareholders 3,983 657 5,005
Dividends paid (701) (1,915) (1,585)
Retained profit/(loss) for the year 3,282 (1,258) 3,420
Consolidated balance sheet summary
HK$M
Fixed and intangible assets 50,527 52,114 48,959
Long-term receivables and investments 3,197 3,165 3,756
Borrowings (22,810) (24,024) (20,838)
Liquid funds less bank overdrafts 13,164 9,746 10,952
Net borrowings (9,646) (14,278) (9,886)
Net current liabilities (excluding liquid funds and bank overdrafts) (3,932) (1,764) (2,752)
Retirement benefit obligations (346)
--
Deferred taxation (7,614) (7,836) (7,146)
Minority interests (71) (93) (99)
Net assets 32,115 31,308 32,832
Financed by:
Shareholders’ funds 32,115 31,308 32,832
Per share
Shareholders’ funds
HK$
9.63 9.40 9.80
EBITDA
HK$
2.71 1.64 2.70
Earnings/(loss)
HK cents
119.5 19.7 148.4
Dividend
HK cents
72.0 17.5 65.0
Ratios
Profit/(loss) margin
%
12.0 2.2 14.5
Return of average shareholders’ funds
%
12.6 2.0 16.4
Dividend cover
Times
1.7 1.1 2.3
Interest cover
Times
6.4 1.5 14.4
Gross debt/equity ratio
Times
0.71 0.77 0.63
Net debt/equity ratio
Times
0.30 0.46 0.30
Statistics