Cathay Pacific 2011 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2011 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 108

  • 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
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

Note
2011
HK$M
2010
HK$M
2011
US$M
2010
US$M
Turnover
Passenger services 67,778 59,354 8,689 7,609
Cargo services 25,980 25,901 3,331 3,321
Catering, recoveries and other services 4,648 4,269 596 547
Total turnover 198,406 89,524 12,616 11,477
Expenses
Staff (14,772) (13,850) (1,894) (1,776)
Inflight service and passenger expenses (3,794) (3,308) (486) (424)
Landing, parking and route expenses (13,105) (11,301) (1,680) (1,449)
Fuel, net of hedging gains/(losses) (38,877) (28,276) (4,984) (3,625)
Aircraft maintenance (8,468) (7,072) (1,086) (907)
Aircraft depreciation and operating leases (8,197) (8,288) (1,051) (1,062)
Other depreciation, amortisation and operating leases (1,205) (1,107) (155) (142)
Commissions (791) (736) (101) (94)
Others (3,697) (4,533) (474) (581)
Operating expenses (92,906) (78,471) (11,911) (10,060)
Operating profit before non-recurring items 5,500 11,053 705 1,417
Profit on disposal of investments 3–2,165 –278
Gain on deemed disposal of an associate 4–868 –111
Operating profit 55,500 14,086 705 1,806
Finance charges (1,726) (1,655) (221) (212)
Finance income 982 677 126 87
Net finance charges 6(744) (978) (95) (125)
Share of profits of associates 15 1,717 2,587 220 331
Profit before tax 6,473 15,695 830 2,012
Taxation 7(803) (1,462) (103) (187)
Profit for the year 5,670 14,233 727 1,825
Non-controlling interests (169) (185) (22) (24)
Profit attributable to owners of Cathay Pacific 85,501 14,048 705 1,801
Profit for the year 5,670 14,233 727 1,825
Other comprehensive income
Cash flow hedges (546) (488) (70) (62)
Revaluation deficit arising from available-for-sale
financial assets (217) (15) (28) (2)
Share of other comprehensive income of associates (158) (131) (20) (17)
Exchange differences on translation of foreign operations 732 313 94 40
Other comprehensive income for the year, net of tax 9(189) (321) (24) (41)
Total comprehensive income for the year 5,481 13,912 703 1,784
Total comprehensive income attributable to
Owners of Cathay Pacific 5,312 13,727 681 1,760
Non-controlling interests 169 185 22 24
5,481 13,912 703 1,784
Earnings per share (basic and diluted) 10 139.8¢ 357.1¢ 17.9¢ 45.8¢
The accounts are prepared and presented in HK$, the functional currency. The US$ figures are shown only as supplementary information and are translated
at HK$7.8.
The notes on pages 58 to 97 and the principal accounting policies on pages 48 to 51 form part of these accounts.
Consolidated Statement of Comprehensive Income
for the year ended 31st December 2011
52