Annual Report (in PDF) - Hongkong Land
Annual Report (in PDF) - Hongkong Land
Annual Report (in PDF) - Hongkong Land
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Notes to the F<strong>in</strong>ancial Statements<br />
5 Revenue<br />
2007 2006<br />
US$m<br />
US$m<br />
Rental <strong>in</strong>come 440.5 348.7<br />
Service <strong>in</strong>come 97.7 95.4<br />
Sales of trad<strong>in</strong>g properties 395.0 111.8<br />
933.2 555.9<br />
Service <strong>in</strong>come <strong>in</strong>cludes service and management charges and hospitality service <strong>in</strong>come.<br />
Total cont<strong>in</strong>gent rents <strong>in</strong>cluded <strong>in</strong> rental <strong>in</strong>come amounted to US$7.1 million (2006: US$6.4 million).<br />
2007 2006<br />
US$m<br />
US$m<br />
The future m<strong>in</strong>imum rental payments receivable under non-cancellable leases<br />
are as follows:<br />
With<strong>in</strong> one year 443.8 363.6<br />
Between two and five years 469.0 470.6<br />
Beyond five years 24.5 36.6<br />
937.3 870.8<br />
Generally the Group’s operat<strong>in</strong>g leases are for terms of three years or more.<br />
6 Cost of sales<br />
2007 2006<br />
US$m<br />
US$m<br />
Investment properties’ direct operat<strong>in</strong>g expenses 115.9 107.9<br />
Cost of properties sold 326.3 89.6<br />
442.2 197.5<br />
32 <strong>Hongkong</strong> <strong>Land</strong>
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