Cathay Pacific 2008 Annual Report Download - page 96

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2008 2007
Consolidated profit and loss summary HK$M
Passenger services 58,046 49,520
Cargo services 24,623 21,783
Catering, recoveries and other services 3,909 4,055
Turnover 86,578 75,358
Operating expenses (94,039) (67,619)
Operating (loss)/profit (7,461) 7,739
Settlement of the United States Department of Justice cargo investigations (468) –
Net finance charges (1,012) (787)
Profit on sale of investments ––
Share of (losses)/profits of associates (730) 1,057
(Loss)/profit before tax (9,671) 8,009
Taxation 1,337 (799)
(Loss)/profit for the year (8,334) 7,210
Profit attributable to minority interests (224) (187)
(Loss)/profit attributable to owners of Cathay Pacific (8,558) 7,023
Dividends paid (2,438) (2,245)
Retained (loss)/profit for the year (10,996) 4,778
Consolidated statement of financial position summary HK$M
Fixed and intangible assets 73,821 70,170
Long-term receivables and investments 12,860 13,573
Borrowings (40,280) (36,368)
Liquid funds less bank overdrafts 15,082 21,637
Net borrowings (25,198) (14,731)
Net current liabilities (excluding liquid funds and bank overdrafts) (17,780) (11,246)
Retirement benefit obligations (281) (268)
Deferred taxation (4,977) (6,771)
Net assets 38,445 50,727
Financed by:
Funds attributable to owners of Cathay Pacific 38,325 50,549
Minority interests 120 178
Total equity 38,445 50,727
Per share
Shareholders’ funds HK$ 9.74 12.83
EBITDA HK$ (0.88) 3.46
(Loss)/earnings HK cents (217.5) 178.3
Dividend HK cents 3.0 84.0
Ratios
(Loss)/profit margin* %(9.9) 9.3
Return on capital employed %(11.3) 12.6
Dividend cover Times (72.5) 2.1
Interest cover Times (7.8) 9.8
Gross debt/equity ratio Times 1.05 0.72
Net debt/equity ratio Times 0.66 0.29
* Restated for 1999 to 2007
Statistics
Cathay Pacific Airways Limited Annual Report 2008
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