HONG KONG: Rail operator and property developer MTR Corp reported earnings of HK$15.6 billion for 2014, including gains in revaluation of investment properties of HK$4.03 billion compared with HK$4.42 billion in 2013.
Earnings per share were HK$2.69 after revaluation.
Revenue came in at HK$40.1 billion, representing an increase of 3.7 percent.
Including after-tax property development profit, net profit from underlying businesses increased by 34.5 percent to HK$11.5 billion.
“Earnings before interest, tax, depreciation and amortization from recurrent businesses increased by 7.5 percent to HK$15.478 billion, the company said in a filing to the stock exchange.
Recurrent profits, being net profits before property development profit and investment properties revaluation, increased by 7.9 percent to HK$8.02 billion.
After tax property development profit was HK$3.5 billion. The property developments The Austin and Grand Austin largely contributed to property development income.
Revenue from Hong Kong transport operations in 2014 was HK$16.2 billion, representing a 7 percent increase over 2013.
Operating costs of the Hong Kong transport operations increased by 9.3 percent to HK$9.2 billion.
Fare revenue in Hong Kong was HK$16.06 billion, up by 7 percent compared with 2013.
Average fare per passenger increased by 2.6 percent to HK$7.31.
