Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
5 Segment information (Continued)
The Group’s segment assets exclude financial assets at fair value
through profit or loss, available-for-sale financial assets as well as
derivative financial instrument which are managed on a central basis.
These are part of the reconciliation to total balance sheet assets.
Corporate assets mainly include the cash at bank, property, plant and
equipment and other receivables held by the head office. The assets of
each reportable segment comprise the inter-segment receivables.
5
Sales between segments are carried out on terms equivalent to those
that prevail in arm’s length transactions. The revenue from external
parties reported to management is measured in a manner consistent
with that in the consolidated income statement. Total segment revenue
also represents the Group’s turnover.
The segment information for the reportable segments for the years
ended 31 December 2011 and 2010 is as follows:
Year ended 31 December 2011
Properties development
Shanghai
and
Zhejiang Shenyang Tianjin Other area
Property
investment
and leasing
Infrastructure
Alternative
energy
Construction
Hotel and
catering
services
Other
operations
Total
reportable
segments
HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million
Revenue from external customers 258.3 – – – 201.9 85.9 89.9 17.0 41.7 0.8 695.5
Inter-segment revenue – – – – 0.3 – – 74.7 – – 75.0
Total revenue 258.3 – – – 202.2 85.9 89.9 91.7 41.7 0.8 770.5
Operating profit/(loss) (145.3) 23.6 (38.9) (10.0) 182.7 15.8 (5.4) (16.0) (2.2) 25.9 30.2
Finance income 2.6 1.9 2.8 – 0.9 1.1 0.2 – 0.1 2.3 11.9
Finance costs (10.9) – – – (39.4) (75.4) (47.4) – (18.1) – (191.2)
Share of profits less losses of
associated companies
– – – – 27.7 – 83.5 – – – 111.2
Share of profits less losses of
jointly controlled entities
(17.6) – – – – – – – – – (17.6)
Profit/(loss) before income tax (171.2) 25.5 (36.1) (10.0) 171.9 (58.5) 30.9 (16.0) (20.2) 28.2 (55.5)
Income tax (expense)/credit 10.0 (12.9) 5.1 – (17.2) (3.8) (5.1) – – (2.9) (26.8)
Profit/(loss) for the year (161.2) 12.6 (31.0) (10.0) 154.7 (62.3) 25.8 (16.0) (20.2) 25.3 (82.3)
Depreciation (1.2) (0.9) (0.2) (0.1) (0.6) (21.9) (55.8) (0.7) (8.7) (3.0) (93.1)
Amortisation (0.4) (14.9) (20.3) – (0.3) (9.3) (0.5) – – (0.2) (45.9)
Fair value adjustments on
investment properties
(218.5) 51.8 – – 24.7 – – – – – (142.0)
(Provision for)/reversal of
impairment losses
– – – – 0.4 (14.7) – (1.7) – (10.0) (26.0)
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