Annual Report 2022

169 2022 Annual Report Transport International Holdings Limited CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the year ended 31 December 2022 (Expressed in Hong Kong dollars) 2022 2021 Note $’000 $’000 Profit for the year 143,640 245,044 Other comprehensive income for the year (after tax and reclassification adjustments): Items that will not be reclassified to profit or loss: Remeasurements of net defined benefit asset, net of tax credit of $65,308,000 (2021: tax expense of $51,439,000) (330,501) 260,314 Equity investment at fair value through other comprehensive income: net movement in fair value reserve (non-recycling), net of nil tax 226,659 191,234 Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of financial statements of entities outside Hong Kong, net of nil tax (56,317) 18,459 Investments in financial assets measured at FVOCI (recycling): net movement in fair value reserve (recycling), net of nil tax 9 (169,005) (120,445) Share of other comprehensive income of an associate, net of nil tax 432 3,140 Other comprehensive income for the year (328,732) 352,702 Total comprehensive income for the year (185,092) 597,746 The notes on pages 175 to 239 form part of these financial statements.