Annual Report 2023

191 2023 Annual Report Transport International Holdings Limited CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the year ended 31 December 2023 (Expressed in Hong Kong dollars) 2023 2022 Note $’000 $’000 (restated) Profit for the year 401,663 549,047 Other comprehensive income for the year (after tax and reclassification adjustments): Items that will not be reclassified to profit or loss: Remeasurements of employee benefit assets, net of tax expense of $8,282,000 (2022: tax credit of $65,308,000) 41,911 (330,501) Remeasurement of provision for long service payments, net of tax credit of $2,525,000 (2022: $Nil) (12,776) – Equity investment at fair value through other comprehensive income: net movement in fair value reserve (non-recycling), net of nil tax 16,482 226,659 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 (16,669) (56,317) Investments in financial assets measured at FVOCI (recycling): net movement in fair value reserve (recycling), net of nil tax 9 71,652 (169,005) Share of other comprehensive income of an associate, net of nil tax 546 432 Other comprehensive income for the year 101,146 (328,732) Total comprehensive income for the year 502,809 220,315 The notes on pages 198 to 274 form part of these financial statements.