|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.
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Oct. 9, 2015 04:00 PM EDT Reads: 886
Saviynt Inc. has announced the availability of the next release of Saviynt for AWS. The comprehensive security and compliance solution provides a Command-and-Control center to gain visibility into risks in AWS, enforce real-time protection of critical workloads as well as data and automate access life-cycle governance. The solution enables AWS customers to meet their compliance mandates such as ITAR, SOX, PCI, etc. by including an extensive risk and controls library to detect known threats and b...
Oct. 9, 2015 03:00 PM EDT Reads: 232
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Oct. 9, 2015 02:45 PM EDT Reads: 186
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
Oct. 9, 2015 02:15 PM EDT Reads: 169
Docker is hot. However, as Docker container use spreads into more mature production pipelines, there can be issues about control of Docker images to ensure they are production-ready. Is a promotion-based model appropriate to control and track the flow of Docker images from development to production? In his session at DevOps Summit, Fred Simon, Co-founder and Chief Architect of JFrog, will demonstrate how to implement a promotion model for Docker images using a binary repository, and then show h...
Oct. 9, 2015 02:15 PM EDT Reads: 161
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Oct. 9, 2015 01:30 PM EDT Reads: 166
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 9, 2015 01:15 PM EDT Reads: 250
Despite all the talk about public cloud services and DevOps, you would think the move to cloud for enterprises is clear and simple. But in a survey of almost 1,600 IT decision makers across the USA and Europe, the state of the cloud in enterprise today is still fraught with considerable frustration. The business case for apps in the real world cloud is hybrid, bimodal, multi-platform, and difficult. Download this report commissioned by NTT Communications to see the insightful findings – registra...
Oct. 9, 2015 01:00 PM EDT Reads: 287
Manufacturing has widely adopted standardized and automated processes to create designs, build them, and maintain them through their life cycle. However, many modern manufacturing systems go beyond mechanized workflows to introduce empowered workers, flexible collaboration, and rapid iteration. Such behaviors also characterize open source software development and are at the heart of DevOps culture, processes, and tooling.
Oct. 9, 2015 12:30 PM EDT Reads: 1,103
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 9, 2015 12:00 PM EDT Reads: 241
DevOps Summit at Cloud Expo 2014 Silicon Valley was a terrific event for us. The Qubell booth was crowded on all three days. We ran demos every 30 minutes with folks lining up to get a seat and usually standing around. It was great to meet and talk to over 500 people! My keynote was well received and so was Stan's joint presentation with RingCentral on Devops for BigData. I also participated in two Power Panels – ‘Women in Technology’ and ‘Why DevOps Is Even More Important than You Think,’ both ...
Oct. 9, 2015 12:00 PM EDT Reads: 8,674
In a report titled “Forecast Analysis: Enterprise Application Software, Worldwide, 2Q15 Update,” Gartner analysts highlighted the increasing trend of application modernization among enterprises. According to a recent survey, 45% of respondents stated that modernization of installed on-premises core enterprise applications is one of the top five priorities. Gartner also predicted that by 2020, 75% of
Oct. 9, 2015 12:00 PM EDT Reads: 330
As the world moves towards more DevOps and microservices, application deployment to the cloud ought to become a lot simpler. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. In his session at 17th Cloud Expo, Raghavan "Rags" Srinivas, an Architect/Developer Evangeli...
Oct. 9, 2015 11:45 AM EDT Reads: 181
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.
Oct. 9, 2015 11:00 AM EDT Reads: 2,233
In their session at DevOps Summit, Asaf Yigal, co-founder and the VP of Product at Logz.io, and Tomer Levy, co-founder and CEO of Logz.io, will explore the entire process that they have undergone – through research, benchmarking, implementation, optimization, and customer success – in developing a processing engine that can handle petabytes of data. They will also discuss the requirements of such an engine in terms of scalability, resilience, security, and availability along with how the archi...
Oct. 9, 2015 10:00 AM EDT Reads: 405
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Oct. 9, 2015 10:00 AM EDT Reads: 159
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 9, 2015 10:00 AM EDT Reads: 1,258
For it to be SOA – let alone SOA done right – we need to pin down just what "SOA done wrong" might be. First-generation SOA with Web Services and ESBs, perhaps? But then there's second-generation, REST-based SOA. More lightweight and cloud-friendly, but many REST-based SOA practices predate the microservices wave. Today, microservices and containers go hand in hand – only the details of "container-oriented architecture" are largely on the drawing board – and are not likely to look much like S...
Oct. 9, 2015 10:00 AM EDT Reads: 503
With containerization using Docker, the orchestration of containers using Kubernetes, the self-service model for provisioning your projects and applications and the workflows we built in OpenShift is the best in class Platform as a Service that enables introducing DevOps into your organization with ease. In his session at DevOps Summit, Veer Muchandi, PaaS evangelist with RedHat, will provide a deep dive overview of OpenShift v3 and demonstrate how it helps with DevOps.
Oct. 9, 2015 09:00 AM EDT Reads: 668
What Is Emergent About Emergent Architecture? By @TheEbizWizard | @DevOpsSummit #DevOps #BigData #API
All we need to do is have our teams self-organize, and behold! Emergent design and/or architecture springs up out of the nothingness! If only it were that easy, right? I follow in the footsteps of so many people who have long wondered at the meanings of such simple words, as though they were dogma from on high. Emerge? Self-organizing? Profound, to be sure. But what do we really make of this sentence?
Oct. 9, 2015 08:00 AM EDT Reads: 404