Annual Report 2011 - Mandarin Oriental Hotel Group
Annual Report 2011 - Mandarin Oriental Hotel Group
Annual Report 2011 - Mandarin Oriental Hotel Group
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26 <strong>Mandarin</strong> <strong>Oriental</strong> International Limited<br />
Consolidated Profit and Loss Account<br />
for the year ended 31st December <strong>2011</strong><br />
<strong>2011</strong> 2010<br />
Non-trading Non-trading<br />
Underlying items Total Underlying items Total<br />
Note US$m US$m US$m US$m US$m US$m<br />
Revenue 1 614.2 – 614.2 513.2 – 513.2<br />
Cost of sales (377.3 ) – (377.3 ) (326.6 ) – (326.6 )<br />
Gross profit 236.9 – 236.9 186.6 – 186.6<br />
Selling and distribution costs (42.1 ) – (42.1 ) (35.9 ) – (35.9 )<br />
Administration expenses (114.2 ) 8.5 (105.7 ) (85.8 ) – (85.8 )<br />
Operating profit 2 80.6 8.5 89.1 64.9 – 64.9<br />
Financing charges (14.6 ) – (14.6 ) (14.8 ) – (14.8 )<br />
Interest income 2.6 – 2.6 1.7 – 1.7<br />
Net financing charges 3 (12.0 ) – (12.0 ) (13.1 ) – (13.1 )<br />
Share of results of associates<br />
and joint ventures 4 9.8 – 9.8 4.3 – 4.3<br />
Profit before tax 78.4 8.5 86.9 56.1 – 56.1<br />
Tax 5 (19.0 ) – (19.0 ) (12.0 ) – (12.0 )<br />
Profit after tax 59.4 8.5 67.9 44.1 – 44.1<br />
Attributable to:<br />
Shareholders of the Company 6&7 59.0 8.5 67.5 44.4 – 44.4<br />
Non-controlling interests 0.4 – 0.4 (0.3 ) – (0.3 )<br />
Earnings per share 6<br />
59.4 8.5 67.9 44.1 – 44.1<br />
US¢ US¢ US¢ US¢<br />
– basic 5.92 6.78 4.48 4.48<br />
– diluted 5.88 6.73 4.46 4.46
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