138 Note 2024 HK$M 2023 HK$M Revenue 4 14,428 14,670 Cost of sales 5 (4,258) (4,284) Gross profit 10,170 10,386 Administrative and selling expenses (2,195) (2,058) Other operating expenses (182) (205) Other net losses 6 (95) (114) Change in fair value of investment properties (5,996) (2,829) Operating profit 1,702 5,180 Finance charges (1,224) (738) Finance income 233 218 Net finance charges 10 (991) (520) Share of profit less losses of joint venture companies 704 124 Share of profit less losses of associated companies 122 (416) Profit before taxation 1,537 4,368 Taxation 11 (2,138) (1,617) (Loss)/Profit for the year (601) 2,751 (Loss)/Profit for the year attributable to: The Company’s shareholders 34 (766) 2,637 Non-controlling interests 36 165 114 (601) 2,751 HK$ HK$ (Loss)/Earnings per share from (loss)/profit attributable to the Company’s shareholders (basic and diluted) 14 (0.13) 0.45 The above consolidated statement of profit or loss should be read in conjunction with the accompanying notes. CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the year ended 31st December 2024