Joint Venture and Associated Companies
The Beverages Division recorded an attributable profit of HK$854 million in 2014, an increase of 6% compared to 2013. Excluding non-recurring profits in 2013 and 2014, attributable profit was HK$776 million, a 6% increase from 2013. This increase principally reflected lower raw material costs in all territories and modest volume growth and an improved sales mix in Mainland China. Overall sales volume increased by 3% to 1,044 million unit cases, compared with an increase of 2% in 2013. The increase was principally due to the assumption of new franchise territories in Colorado in the USA.