Welcome!

Microservices Expo Authors: Robert Reeves, Pat Romanski, Flint Brenton, Anders Wallgren, Elizabeth White

News Feed Item

Miramar Hotel and Investment Company, Limited Announces 2014 Interim Results

Miramar Group's Turnover Increases 7% to Approximately HK$1,503 Million

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.

Travel Business
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.

Business Outlook
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."

Company Logo
http://release.media-outreach.com/i/Download/1144

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.

Contact:
Josie Baldwin
Marketing Manager - Corporate Communications
Tel: 2315 5343
Fax: 2316 7320
Email: Email Contact

Carol Hui
Assistant Marketing Manager - Corporate Communications
Tel: 2315 5318
Fax: 2316 7320
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@MicroservicesExpo Stories
In 2006, Martin Fowler posted his now famous essay on Continuous Integration. Looking back, what seemed revolutionary, radical or just plain crazy is now common, pedestrian and "just what you do." I love it. Back then, building and releasing software was a real pain. Integration was something you did at the end, after code complete, and we didn't know how long it would take. Some people may recall how we, as an industry, spent a massive amount of time integrating code from one team with another...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
As the software delivery industry continues to evolve and mature, the challenge of managing the growing list of the tools and processes becomes more daunting every day. Today, Application Lifecycle Management (ALM) platforms are proving most valuable by providing the governance, management and coordination for every stage of development, deployment and release. Recently, I spoke with Madison Moore at SD Times about the changing market and where ALM is headed.
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
The goal of any tech business worth its salt is to provide the best product or service to its clients in the most efficient and cost-effective way possible. This is just as true in the development of software products as it is in other product design services. Microservices, an app architecture style that leans mostly on independent, self-contained programs, are quickly becoming the new norm, so to speak. With this change comes a declining reliance on older SOAs like COBRA, a push toward more s...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Digital means customer preferences and behavior are driving enterprise technology decisions to be sure, but let’s not forget our employees. After all, when we say customer, we mean customer writ large, including partners, supply chain participants, and yes, those salaried denizens whose daily labor forms the cornerstone of the enterprise. While your customers bask in the warm rays of your digital efforts, are your employees toiling away in the dark recesses of your enterprise, pecking data into...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
I had the opportunity to catch up with Chris Corriere - DevOps Engineer at AutoTrader - to talk about his experiences in the realm of Rugged DevOps. We discussed automation, culture and collaboration, and which thought leaders he is following. Chris Corriere: Hey, I'm Chris Corriere. I'm a DevOps Engineer AutoTrader. Derek Weeks: Today we're going to talk about Rugged DevOps. It's a subject that's gaining a lot of traction in the community but not a lot of people are really familiar with wh...
Wow, if you ever wanted to learn about Rugged DevOps (some call it DevSecOps), sit down for a spell with Shannon Lietz, Ian Allison and Scott Kennedy from Intuit. We discussed a number of important topics including internal war games, culture hacking, gamification of Rugged DevOps and starting as a small team. There are 100 gold nuggets in this conversation for novices and experts alike.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
With DevOps becoming more well-known and established practice in nearly every industry that delivers software, it is important to continually reassess its efficacy. This week’s top 10 includes a discussion on how the quick uptake of DevOps adoption in the enterprise has posed some serious challenges. Additionally, organizations who have taken the DevOps plunge must find ways to find, hire and keep their DevOps talent in order to keep the machine running smoothly.
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at 18th Cloud Expo, Charles Kendrick, CTO & Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and devel...
Call it DevOps or not, if you are concerned about releasing more code faster and at a higher quality, the resulting software delivery chain and process will look and smell like DevOps. But for existing development teams, no matter what the velocity objective is, getting from here to there is not something that can be done without a plan. Moving your release cadence from months to weeks is not just about learning Agile practices and getting some automation tools. It involves people, tooling and ...
The notion of customer journeys, of course, are central to the digital marketer’s playbook. Clearly, enterprises should focus their digital efforts on such journeys, as they represent customer interactions over time. But making customer journeys the centerpiece of the enterprise architecture, however, leaves more questions than answers. The challenge arises when EAs consider the context of the customer journey in the overall architecture as well as the architectural elements that make up each...
Much of the discussion around cloud DevOps focuses on the speed with which companies need to get new code into production. This focus is important – because in an increasingly digital marketplace, new code enables new value propositions. New code is also often essential for maintaining competitive parity with market innovators. But new code doesn’t just have to deliver the functionality the business requires. It also has to behave well because the behavior of code in the cloud affects performan...
APIs have taken the world by storm in recent years. The use of APIs has gone beyond just traditional "software" companies, to companies and organizations across industries using APIs to share information and power their applications. For some organizations, APIs are the biggest revenue drivers. For example, Salesforce generates nearly 50% of annual revenue through APIs. In other cases, APIs can increase a business's footprint and initiate collaboration. Netflix, for example, reported over 5 bi...