Annual Report 2022

Transport International Holdings Limited 2022 Annual Report 98 FINANCIAL REVIEW The Group Summary of Financial Performance 2022 2021 Favourable/(Unfavourable) Change HK$ million HK$ million HK$ million % Revenue 6,607.2 7,202.0 (594.8) (8.3) Other income 705.8 254.0 451.8 177.9 Operating expenses (7,220.9) (7,197.4) (23.5) (0.3) Profit from operations 92.1 258.6 (166.5) (64.4) Finance costs (37.6) (14.4) (23.2) (161.1) Share of (losses)/profits of associates (6.9) 19.6 (26.5) (135.2) Share of profit of joint venture 8.2 8.3 (0.1) (1.2) Profit before taxation 55.8 272.1 (216.3) (79.5) Income tax credit/(expense) 87.8 (27.1) 114.9 424.0 Profit for the year 143.6 245.0 (101.4) (41.4) Earnings per share (HK$) 0.31 0.53 (0.22) (41.5) Review of 2022 Financial Performance The Group’s Results for the Year The Group’s profit attributable to equity shareholders for the year ended 31 December 2022 was HK$143.6 million (2021: HK$245.0 million), representing a decrease of HK$101.4 million compared with 2021. Such unfavourable variance was mainly due to the outbreak of the fifth wave of Coronavirus Disease (“COVID-19”) and increase in depreciation and other operating expenses as a result of bus replacement and inflation. Earnings per share decreased correspondingly from HK$0.53 for 2021 to HK$0.31 for 2022. Dividends per Share 1.6 0.8 1.2 0.4 0 2018 2019 2020 2021 2022 HK$