Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

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Directors’ Profiles Continued Lord Leach of Fairford Lord Leach joined the Board in 1987. He is deputy chairman of Jardine Lloyd Thompson, and a director of Dairy Farm, Hongkong Land, Jardine Matheson, Jardine Strategic and Rothschilds Continuation Holdings. He joined the Jardine Matheson group in 1983 after a career in banking and merchant banking. Dr Richard Lee Dr Lee joined the Board in 1987. Dr Lee’s principal business interests are in the manufacturing of textiles and apparel in Southeast Asia, and he is chairman of TAL Apparel. He is also a director of Jardine Matheson and Hongkong Land. Robert Léon Mr Léon joined the Board in 1994. He is a manager of Qualis and a director of Roc Oil Company. Sydney S W Leong Mr Leong, a Solicitor of both the Supreme Courts of Hong Kong and England and Wales, joined the Board in 1989. He is chairman and a director of a number of companies, including chairman of Henry G Leong Estates. Lord Powell of Bayswater KCMG Lord Powell joined the Board in 1992. He was previously Private Secretary and adviser on foreign affairs and defence to British Prime Ministers, Baroness Thatcher and Rt Hon John Major. He is a director of Caterpillar, Hongkong Land, LVMH Moët Hennessy Louis Vuitton, Matheson & Co, Capital Generation Partners, Textron Corporation, Schindler Holdings, Northern Trust Global Services, Yell Group and Magna Holdings. He is co-chairman of the UK Government’s Asia Task Force and was previously president of the China-Britain Business Council and chairman of the Singapore-British Business Council. 26 Mandarin Oriental International Limited James Watkins Mr Watkins joined the Board in 1997. He was a director and group general counsel of Jardine Matheson from 1997 to 2003. Mr Watkins qualified as a solicitor in 1969 and was formerly a partner of the English law firm, Linklaters. He is also a director of Advanced Semiconductor Manufacturing Corporation, Global Sources, Asia Satellite Telecommunications Holdings, Jardine Cycle & Carriage and MCL Land. Percy Weatherall Mr Weatherall joined the Board in 2000 and was Managing Director from 2000 to 2006. He held a number of senior positions since first joining the Jardine Matheson group in 1976 until his retirement from executive office in 2006. He is also a director of Dairy Farm, Hongkong Land, Jardine Matheson and Jardine Strategic.
Consolidated Profit and Loss Account for the year ended 31st December 2008 2008 2007 Note US$m US$m Revenue 1 530.0 529.5 Cost of sales (324.5 ) (318.8 ) Gross profit 205.5 210.7 Selling & distribution costs (36.6 ) (32.6 ) Administration expenses (82.7 ) (70.4 ) Operating profit 2 86.2 107.7 Interest income 12.4 18.9 Financing charges (29.4 ) (35.3 ) Net financing charges 3 (17.0 ) (16.4 ) Share of results of associates and joint venture excluding writeback of impairment of an associate 15.3 17.8 Writeback of impairment of an associate 4 – 5.1 Share of results of associates and joint venture 4 15.3 22.9 Gain on disposal related to an associate 5 – 16.0 Profit before tax 84.5 130.2 Tax 6 (18.3 ) (22.8 ) Profit for the year 66.2 107.4 Attributable to: Shareholders of the Company 67.1 108.2 Minority interests (0.9 ) (0.8 ) Earnings per share 7 66.2 107.4 US¢ US¢ – basic 6.84 11.16 – diluted 6.79 10.96 Annual Report 2008 27
Page 1: Mandarin Oriental International Lim
Page 4 and 5: Contents 1 Corporate Overview 3 Cor
Page 6 and 7: Highlights Mandarin Oriental Intern
Page 8 and 9: Chairman’s Statement Overview Des
Page 10 and 11: Group Chief Executive’s Review Bu
Page 12 and 13: Group Chief Executive’s Review Co
Page 14 and 15: Group Chief Executive’s Review Co
Page 16 and 17: Operating Summary There are 23 hote
Page 18 and 19: Development Portfolio Mandarin Orie
Page 20 and 21: International Recognition Continued
Page 22 and 23: Financial Review Continued In 2008,
Page 24 and 25: Financial Review Continued Cash flo
Page 26 and 27: Financial Review Continued Treasury
Page 30 and 31: Consolidated Balance Sheet as at 31
Page 32 and 33: Consolidated Cash Flow Statement fo
Page 34 and 35: Principal Accounting Policies Conti
Page 42 and 43: Financial Risk Management A Financi
Page 44 and 45: Financial Risk Management Continued
Page 46 and 47: Critical Accounting Estimates and J
Page 48 and 49: Notes to the Financial Statements 1
Page 50 and 51: Notes to the Financial Statements C
Page 76 and 77: Principal Subsidiaries, Associates,
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Independent Auditor’s Report To t
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Responsibility Statement The Direct
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Corporate Governance Continued Dire
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Corporate Governance Continued Dire
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Principal Risks and Uncertainties C
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Mandarin Oriental Hotel Group Conta
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Sales and Reservations Offices Mand
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Mandarin Oriental International Lim
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