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Cathay Pacific Airways Limited Interim Report 201332
Condensed Financial Statements
Notes to the Accounts
2. Changes in accounting policies (continued)
HKFRS 13 “Fair Value Measurement” aims to improve consistency and reduce complexity by
providing a precise definition of fair value and a single source of fair value measurement and
disclosure requirements for use in all relevant HKFRSs. The requirements do not extend the use of fair
value accounting but provide guidance on how fair value should be measured where its use is already
required or permitted by other standards in HKFRSs. It also provides new disclosure requirements.
The adoption of HKFRS 13 only affects disclosures of fair value measurements of financial assets and
financial liabilities in the Group’s interim accounts.
3. Turnover
Turnover comprises revenue and surcharges from transportation services, airline catering, recoveries
and other services provided to third parties.
4. Segment information
(a) Segment results
Six months ended 30th June
Airline business Non-airline business Unallocated Total
2013
HK$M
2012
HK$M
(restated)
2013
HK$M
2012
HK$M
(restated)
2013
HK$M
2012
HK$M
(restated)
2013
HK$M
2012
HK$M
(restated)
Sales to external customers 48,025 48,340 559 521 48,584 48,861
Inter-segment sales 441,165 857 1,169 861
Segment revenue 48,029 48,344 1,724 1,378 49,753 49,722
Segment results 1,391 (372) (356) 61 1,035 (311)
Net finance charges (535) (378) (7) (3) (542) (381)
856 (750) (363) 58 493 (692)
Share of losses of associates (155) (71) (155) (71)
Profit/(loss) before taxation 856 (750) (363) 58 (155) (71) 338 (763)
Taxation (235) (33) 62 (24) (173) (57)
Profit/(loss) for the period 165 (820)