2013 Movement in Underlying Profit
underlying profit on sale of Festival Walk.
The Marine Services Division reported an attributable profit of HK$1,307 million, an increase of 36% compared to 2012. At Swire Pacific Offshore ("SPO"), results benefited from the additional contribution from newer, more sophisticated vessels that commenced operations in 2013 and a full-year's contribution from the Wind Farm Installation Vessels delivered in 2012. Operating costs increased, principally reflecting the entry of new vessels into service. The attributable profit of the HUD group for 2013 was HK$64 million compared to HK$53 million in 2012.