Annual Report 2024

113 2024 Annual Report Transport International Holdings Limited The revenue and profit generated by the Group’s four Divisions for the year ended 31 December 2024 are shown below: Revenue Profit before taxation HK$ million 2024 2023 2024 2023 Franchised Public Bus Operations Division 7,849.3 7,563.9 281.0 129.7 Non-franchised Transport Operations Division 267.5 238.0 24.6 17.2 Property Holdings and Development Division 98.6 82.9 11.8 364.6 China Mainland Transport Operations Division – – 0.6 31.1 8,215.4 7,884.8 318.0 542.6 Finance costs (98.3) (110.1) Unallocated net operating income/(expense) 24.6 (1.4) Profit before taxation 244.3 431.1 Income tax expense (57.0) (29.4) Profit for the year 187.3 401.7 Segment information on the Group’s main businesses is set out in note 12 to the financial statements on pages 224 to 226 of this Annual Report. Key Changes to the Group’s Revenue, Other Net Income and Operating Expenses Total revenue for 2024 amounted to HK$8,215.4 million, an increase of HK$330.6 million or 4.2% compared with HK$7,884.8 million for 2023. The increase was mainly due to the increase in revenue of HK$285.4 million and HK$29.5 million from the Group’s franchised public bus operations and non-franchised transport operations; and the increase in rental income arising from the Group’s investment properties of HK$15.7 million. Group Revenue Total Assets at 31 December HK$ million HK$ million (Restated) (Note) (Restated) (Note) 24,000 12,000 18,000 6,000 0 2020 2021 2022 2023 2024 10,000 5,000 7,500 2,500 0 2020 2021 2022 2023 2024 Franchised public bus operations Non-franchised transport operations Gross rentals from investment properties Note: The relevant comparative amounts in 2021 and 2022 have been restated to reflect the change in accounting policies in respect to the measurement of investment properties and investment property under development.