Page 116 - Urban Renewal Authority 2023-24 Annual Report

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the year ended 31 March 2024
(expressed in Hong Kong Dollars)

Note 2024 2023

$’000 $’000

Revenue 5(a) 3,023,922 5,513,383

Direct costs (3,599,198) (5,454,321)

Gross (deficit)/surplus (575,276) 59,062

Other income, net 5(b) 1,023,515 575,273

Administrative expenses (675,779) (637,089)

Other expenses (603,490) (491,332)

Operating deficit before provision for impairment
on properties and committed projects (831,030) (494,086)

Provision for impairment on properties and committed projects, net 6(a) (3,089,252) (3,035,622)

Operating deficit before income tax 6 (3,920,282) (3,529,708)

Income tax expenses 7(a) – –

Deficit and total comprehensive income for the year (3,920,282) (3,529,708)

The notes on pages 119 to 161 form part of these consolidated financial statements.

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