Annual Report 2023

114 2023 Annual Report Transport International Holdings Limited FINANCIAL REVIEW The Group Summary of Financial Performance 2023 2022 Favourable/(Unfavourable) Change HK$ million HK$ million HK$ million % (Restated) Revenue 7,884.8 6,607.2 1,277.6 19.3 Other income 68.1 705.8 (637.7) (90.4) Operating expenses (7,738.3) (7,274.4) (463.9) (6.4) Profit from operations 214.6 38.6 176.0 456.0 Change in fair value of investment properties and investment property under development 287.4 448.7 (161.3) (35.9) Finance costs (110.1) (37.6) (72.5) (192.8) Share of profits/(losses) of associates 31.1 (6.9) 38.0 550.7 Share of profit of joint venture 8.1 8.2 (0.1) (1.2) Profit before taxation 431.1 451.0 (19.9) (4.4) Income tax (expense)/credit (29.4) 98.0 (127.4) (130.0) Profit for the year 401.7 549.0 (147.3) (26.8) Profit for the year, excluding the effect of fair value changes on investment properties and investment property under development (“Underlying Profit”) 114.3 100.4 13.9 13.8 Earnings per share (HK$) 0.83 1.17 (0.3) (29.1) Review of 2023 Financial Performance The Group’s Results for the Year The Group’s profit attributable to equity shareholders for the year ended 31 December 2023 was HK$401.7 million (2022 (restated): HK$549.0 million). Excluding the effect of the fair value changes on investment properties and investment property under development, the Underlying Profit of the Company for 2023 and 2022 would have been HK$114.3 million and HK$100.4 million respectively. Dividends per Share 1.2 0.8 0.4 0 2019 2020 2021 2022 2023 HK$