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Financial Highlights

Year Ended 31 December

(HK$ million unless otherwise stated)

2016 2015 2014 2013
Turnover 24,036 21,079 21,115 19,969
Gross profit 3,612 3,421 3,139 2,878
Profit attributable to the Shareholders 1,877 1,804 1,659 1,835
Core net profit(1) 1,104 1,061 976 886
Shareholders' equity(2) 16,541 15,533 14,671 13,426
Cash and bank balances 3,335 3,733 3,816 4,228
Net cash /(debt)(3) (3,598) (1,483) (487) 38
Gearing ratio(4) 41.9% 33.6% 29.3% 31.2%
(1) Core net profit represents profit attributable to the Shareholders before valuation gains on investment properties, net of deferred tax, and gain from disposal of Kowloon Bay warehouse in 2013.
(2) Shareholders' equity represents equity attributable to the Shareholders excluding put options written on non-controlling interests.
(3) Net cash/ (debt) represents cash and bank balances less total bank loans and overdrafts.
(4) Gearing ratio represents total bank loans and overdrafts, dividing by Shareholders' equity.