Financial Highlights

Audited Results for the Year Ended 31 December 2018

• Total sales volume of energy products increased by around 5.65% to approximately 6,601,000 tons. The revenue from operations for the year also increased by approximately 36.04% to approximately HK$30 billion reflecting the increase in sale volume and the substantially high price for energy products compared with last year.
• The overall gross profit margin dropped from around 7.36% in 2017 to around 6.55% in 2018 because the fluctuation in the international oil price has made the gross profits of oil products thinner during the year. Given that the sales increased, the overall gross profit increased by approximately 21.09% to approximately HK$1,967 million.
• Although the overall gross profit increased, the depreciation of Renminbi in 2018 recorded a net exchange loss of approximately HK$124 million and due to the sharp fall of oil price at December end, the Group has provided a net realizable value allowance on inventories of HK$120 million. Thus, profit for the year attributable to owners of the Company from operations decreased by around 9.17% to approximately HK$759 million.
• Basic earnings per share from operations is approximately HK$0.52.
• Equity attributable to owners of the Company increased by around 7.96% to approximately HK$7,465 million.

Financial Summary

Results

	For the year ended 31 December
	2018	2017	2016	2015	2014
	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000
Revenue	30,007,805	22,058,618	15,700,406	15,514,990	19,633,037
Profit before taxation	698,671	852,466	829,341	795,755	922,218
Taxation charge	(28,215)	(27,663)	(79,181)	(36,783)	(21,312)
Profit for the year	670,456	824,803	750,160	758,972	900,906
Attributable to:
Owners of the Company	759,042	835,631	749,397	756,643	900,270
Non-controlling interests	(88,586)	(10,828)	763	2,329	636
	670,456	824,803	750,160	758,972	900,906
Earnings per share
Basic (in HK dollars)	0.52	0.57	0.51	0.51	0.61
Diluted (in HK dollars)	N/A	N/A	N/A	0.51	0.60

Assets and Liabilities

	At 31 December
	2018	2017	2016	2015	2014
	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000
Total assets	16,172,120	14,337,092	12,544,128	11,404,965	14,216,116
Total liabilities	(8,730,238)	(7,352,544)	(6,603,183)	(6,016,349)	(9,340,332)
	7,441,883	6,984,548	5,940,945	5,388,616	4,905,784
Equity attributable to     owners of the    Company	7,465,486	6,915,350	5,857,227	5,350,423	4,874,600
Non-controlling interests	(23,604)	69,198	83,718	38,193	31,184
	7,441,883	6,984,548	5,940,945	5,388,616	4,905,784