ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

annual report of the board of directorsPASSIONASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /1324The Directors have pleasure in presentingto members their Report together with theAudited Financial Statements for the yearended 31st March 2013 to be presentedat the 19th Annual General Meeting of theCompany.Principal ActivitiesThe Company is engaged in Hoteliering andProperty Development/Management. TransAsia Hotels PLC (Cinnamon Lakeside) is aSubsidiary of the Company and its principalactivity is Hoteliering. There has been nomaterial change to the activities of theCompany or of the Subsidiary during theperiod under review.Review of Business and FutureDevelopmentsThe financial and operational performance,during the year ended 31st March 2013 andfuture business development of the Companyand Group, is provided in the Chairman’sStatement, the Management Discussion andAnalysis of Operation, Sustainability Reportand the Financial Review. These reports,which form an integral part of the Directors’Report, together with the Audited FinancialStatements, reflect the state of affairs of theCompany and Group for the financial year2012/2013.Financial Statements and Auditors’reportThe Financial Statements duly signed by theDirectors is provided on pages 126 to 166and the Auditors’ Report on the FinancialStatements is provided on page 125 of thisAnnual Report.Segment ReportingSegment wise contribution to Group revenue, results, assets and liabilities are provided in Note38 to the Financial Statements.RevenueRevenue generated by the Company amounted to Rs. 5,050 Mn (2012 - Rs. 6,479 Mn),whilst Group revenue amounted to Rs. 7,891Mn (2012 - Rs. 8,855 Mn).Contribution toGroup revenue, from the different business segments are provided in Note 38 to the FinancialStatements.Results and AppropriationsThe profit after tax of the Company was Rs. 2,292 Mn (2012- Rs. 2,007 Mn) whilst the Groupprofit attributable to the equity holders of the Parent Company for the year was Rs. 2,494 Mn(2012 – Rs. 2,148 Mn). A detailed description of the Group results and appropriations are givenbelow.2012/13 2011/12Rs. ‘000Rs.‘000Net Profit for the year after providing for expensesincluding Depreciation on Property, Plant andEquipment was: 3,336,251 2,654,511From which Income Tax has been deducted of: (238,865) (152,053)Leaving thereafter a Net Profit After Tax of: 3,097,386 2,502,458The amount attributable to Minority Interestwhich has been deducted is: (603,090) (353,581)Leaving a Profit Available to the Group of: 2,494,296 2,148,877The Brought Forward Profit is: 6,405,690 5,109,148Transferred to Revenue Reserve of: 28,175 33,215Final Dividends paid (1,328,326) (442,775)Interim Dividends Paid (442,775) (442,775)Leaving an un-appropriated balance to be CarriedForward of: 7,157,061 6,405,690