|By Marketwired .||
|August 18, 2014 10:59 AM EDT||
HONG KONG, CHINA -- (Marketwired) -- 08/18/14 -- Miramar Hotel and Investment Company, Limited ('Miramar" or 'the Group") (HKSE: 0071) announced today the interim results for the six months ended 30 June 2014.
---------------------------------------------------------------------------- For the six months ended HK$ Million 30 June ------------------------------ 2014 2013 Change ---------------------------------------------------------------------------- Turnover 1,503 1,408 7% ---------------------------------------------------------------------------- Profit attributable to shareholders 708 680 4% ---------------------------------------------------------------------------- Underlying earnings per share - basic and diluted 43 cents 41 cents 4% ---------------------------------------------------------------------------- Interim dividend per share 17 cents 17 cents - ----------------------------------------------------------------------------
For the six months ended 30 June 2014 (the "Reporting Period"), the Group's turnover continued to grow, reaching approximately HK$1,503 million, representing an increase of 7% compared to the six months ended 30 June 2013 (the "Last Corresponding Period"). Profit attributable to shareholders continued to grow steadily and, at HK$708 million, was up 4% compared to the Last Corresponding Period. Excluding the net increase in fair value of the investment properties, underlying profit attributable to shareholders rose to HK$246 million. Basic underlying earnings per share were HK$0.43, representing an increase of 4% compared to the Last Corresponding Period. The Board of Directors recommended payment of an interim dividend of HK17 cents per share.
Regarding the results in the first half of 2014, Mr. Lee Ka Shing, Miramar Group's Chairman and CEO, said, "The Group's four core businesses -- Property Rental, Hotel and Serviced Apartment, Food and Beverage, and Travel -- delivered satisfactory revenue growth in an economic environment characterized by subdued growth."
Property Rental Business
The Group's Property Rental Business recorded a 6% increase in revenue to $389 million, benefiting from its quality portfolio of tenants with long-term tenancy agreements and its on-going efforts to improve tenant mix and property facilities.
The office leasing market remained relatively firm with occupancy at Miramar Tower stable and new leases recording growth in rental. The Miramar Shopping Centre and Mira Mall, while recording a slight drop in occupancy rates against a softened market, also recorded higher rents for new leases. The Group will continue to adjust the trade-mix of its malls with effective marketing activities to drive footfall.
Hotel and Serviced Apartment Business
The Hotel and Serviced Apartment Business responded well to the challenging business environment delivering revenue growth of 15% through a competitive pricing and customer acquisition strategy.
During the Reporting Period, the new Mira Moon design hotel recorded steady growth. The Group is now planning to open its third hotel brand under the Mira Hotel Collection before the end of 2014.
Another highlight of the year is the fifth anniversary of the Group's flagship hotel, The Mira Hong Kong, with celebratory promotional events spanning from May to September to increase occupancy rates and F&B sales, and promote brand awareness.
Food and Beverage Business
The Food and Beverage Business recorded revenue growth of 21% during the Reporting Period amidst economic conditions characterized by high operating costs and tight supply of trained labor.
Our diversified dining establishments were strengthened with the opening of two new School Food Korean restaurants at high-traffic malls, and a fourth outlet is planned for the Fourth Quarter of 2014.
The second Saboten was opened in Tsim Sha Tsui, and year-round celebrations for the 40th anniversary of Tsui Hang Village which will take diners down memory lane with classic Cantonese recipes and award-winning dishes.
The Group's Travel Business continued to grow and strengthen its market position, and recorded an increase in revenue of 4%. This was achieved by tapping into the growing demand for outbound overseas vacations and luxury travel such as cruises. The emerging online travel business continues to show satisfactory results as more customers turn to the Internet for travel planning.
Mr. Lee concluded, "The overall macro-economic environment is more stable, and as such the Group is confident of delivering sustainable healthy returns to its shareholders by continuing to adopt a prudent approach while maintaining operational flexibility."
About Miramar Hotel and Investment Company, Limited
Established in Hong Kong in 1957, Miramar Hotel and Investment Company, Limited (Miramar Group) is a hospitality group with a diversified service-oriented business portfolio. Comprising stylish hotels and serviced apartments, property rental, food and beverage, and travel services in Hong Kong and Mainland China. Miramar Group has been listed on the Hong Kong Stock Exchange since 1970 (HKEx Stock Code: 71) and is a member of Henderson Land Group.
SYS-CON Media announced that IBM, which offers the world’s deepest portfolio of technologies and expertise that are transforming the future of work, has launched ad campaigns on SYS-CON’s numerous online magazines such as Cloud Computing Journal, Virtualization Journal, SOA World Magazine, and IoT Journal. IBM’s campaigns focus on vendors in the technology marketplace, the future of testing, Big Data and analytics, and mobile platforms.
Mar. 28, 2015 11:15 AM EDT Reads: 1,584
For those of us that have been practicing SOA for over a decade, it's surprising that there's so much interest in microservices. In fairness microservices don't look like the vendor play that was early SOA in the early noughties. But experienced SOA practitioners everywhere will be wondering if microservices is actually a good thing. You see microservices is basically an SOA pattern that inherits all the well-known SOA principles and adds characteristics that address the use of SOA for distribut...
Mar. 28, 2015 11:00 AM EDT Reads: 931
Microservice architectures are the new hotness, even though they aren't really all that different (in principle) from the paradigm described by SOA (which is dead, or not dead, depending on whom you ask). One of the things this decompositional approach to application architecture does is encourage developers and operations (some might even say DevOps) to re-evaluate scaling strategies. In particular, the notion is forwarded that an application should be built to scale and then infrastructure sho...
Mar. 28, 2015 11:00 AM EDT Reads: 2,346
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Ras...
Mar. 28, 2015 11:00 AM EDT Reads: 1,990
Microservices are the result of decomposing applications. That may sound a lot like SOA, but SOA was based on an object-oriented (noun) premise; that is, services were built around an object - like a customer - with all the necessary operations (functions) that go along with it. SOA was also founded on a variety of standards (most of them coming out of OASIS) like SOAP, WSDL, XML and UDDI. Microservices have no standards (at least none deriving from a standards body or organization) and can be b...
Mar. 28, 2015 10:45 AM EDT Reads: 2,067
Our guest on the podcast this week is Jason Bloomberg, President at Intellyx. When we build services we want them to be lightweight, stateless and scalable while doing one thing really well. In today's cloud world, we're revisiting what to takes to make a good service in the first place. Listen in to learn why following "the book" doesn't necessarily mean that you're solving key business problems.
Mar. 28, 2015 10:45 AM EDT Reads: 1,176
Right off the bat, Newman advises that we should "think of microservices as a specific approach for SOA in the same way that XP or Scrum are specific approaches for Agile Software development". These analogies are very interesting because my expectation was that microservices is a pattern. So I might infer that microservices is a set of process techniques as opposed to an architectural approach. Yet in the book, Newman clearly includes some elements of concept model and architecture as well as p...
Mar. 28, 2015 10:15 AM EDT Reads: 2,064
Microservices, for the uninitiated, are essentially the decomposition of applications into multiple services. This decomposition is often based on functional lines, with related functions being grouped together into a service. While this may sound a like SOA, it really isn't, especially given that SOA was an object-centered methodology that focused on creating services around "nouns" like customer and product. Microservices, while certainly capable of being noun-based, are just as likely to be v...
Mar. 28, 2015 10:00 AM EDT Reads: 1,754
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
Mar. 28, 2015 10:00 AM EDT Reads: 1,510
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
Mar. 28, 2015 09:15 AM EDT Reads: 2,151
An explosive combination of technology trends will be where ‘microservices’ and the IoT Internet of Things intersect, a concept we can describe by comparing it with a previous theme, the ‘X Internet.' The idea of using small self-contained application components has been popular since XML Web services began and a distributed computing future of smart fridges and kettles was imagined long back in the early Internet years.
Mar. 28, 2015 09:00 AM EDT Reads: 2,115
Modern Systems announced completion of a successful project with its new Rapid Program Modernization (eavRPMa"c) software. The eavRPMa"c technology architecturally transforms legacy applications, enabling faster feature development and reducing time-to-market for critical software updates. Working with Modern Systems, the University of California at Santa Barbara (UCSB) leveraged eavRPMa"c to transform its Student Information System from Software AG's Natural syntax to a modern application lev...
Mar. 28, 2015 09:00 AM EDT Reads: 748
OmniTI has expanded its services to help customers automate their processes to deliver high quality applications to market faster. Consistent with its focus on IT agility and quality, OmniTI operates under DevOps principles, exploring the flow of value through the IT delivery process, identifying opportunities to eliminate waste, realign misaligned incentives, and open bottlenecks. OmniTI takes a unique, value-centric approach by plotting each opportunity in an effort-payoff quadrant, then work...
Mar. 28, 2015 09:00 AM EDT Reads: 711
SOA Software has changed its name to Akana. With roots in Web Services and SOA Governance, Akana has established itself as a leader in API Management and is expanding into cloud integration as an alternative to the traditional heavyweight enterprise service bus (ESB). The company recently announced that it achieved more than 90% year-over-year growth. As Akana, the company now addresses the evolution and diversification of SOA, unifying security, management, and DevOps across SOA, APIs, microser...
Mar. 28, 2015 08:30 AM EDT Reads: 1,993
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
Mar. 28, 2015 08:00 AM EDT Reads: 1,138
Cloud computing is changing the way we look at IT costs, according to industry experts on a recent Cloud Luminary Fireside Chat panel discussion. Enterprise IT, traditionally viewed as a cost center, now plays a central role in the delivery of software-driven goods and services. Therefore, companies need to understand their cloud utilization and resulting costs in order to ensure profitability on their business offerings. Led by Bernard Golden, this fireside chat offers valuable insights on ho...
Mar. 28, 2015 08:00 AM EDT Reads: 539
The 16th Cloud Expo has added coverage containers and microservices to its program for New York, to be held June 9-11 at the Jacob Javits Convention Center. Cloud Expo has long been the single, independent show where delegates and technology vendors can meet to experience and discuss the entire world of the cloud. This year will be no different. Containers are an old concept that saw renewed life with the emergence of Docker in 2013. Then late in 2014, CoreOS shook up the cloud-computing w...
Mar. 28, 2015 07:00 AM EDT Reads: 2,076
Our guest on the podcast this week is Jason Bloomberg, President at Intellyx. When we build services we want them to be lightweight, stateless and scalable while doing one thing really well. In today’s cloud world, we’re revisiting what to takes to make a good service in the first place.microservices Listen in to learn why following “the book” doesn’t necessarily mean that you’re solving key business problems.
Mar. 28, 2015 03:00 AM EDT Reads: 993
The Open Compute Project is a collective effort by Facebook and a number of players in the datacenter industry to bring lessons learned from the social media giant's giant IT deployment to the rest of the world. Datacenters account for 3% of global electricity consumption – about the same as all of Switzerland or the Czech Republic -- according to people I met at the recent Open Compute Summit in San Jose. With increasing mobility at the edge of the cloud and vast new dataflows being pre...
Mar. 28, 2015 01:00 AM EDT Reads: 1,780
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
Mar. 27, 2015 07:00 PM EDT Reads: 5,123