Mr. Lee concluded, The Group will strengthen its property portfolio by enhancing its asset value and

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For the six months ended 30 June 2013 (the Reporting Period ), the Group s turnover amounted to approximately HK$1,408 million representing a decrease of 8% compared to the six months ended 30 June 2012 (the Last Corresponding Period ). Profit attributable to shareholders amounted to approximately HK$680 million, up 2% 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$237 million. Basic underlying earnings per share were HK$0.41 representing an increase of 14% compared new orleans haunted hotels 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 2013, Mr. Lee Ka Shing, Miramar Group s CEO, said, The Group responded constructively new orleans haunted hotels to the still fragile global economy new orleans haunted hotels by actively strengthening its value propositions. Benefiting from long term leases with loyal tenants, asset enhancement in recent years and improved trade mix, our Property Rental Business generated satisfactory revenue and growth and contributed stable rental income for the Group.
Our Travel Business also recorded growth following the recovery of global air travel. Due in part to the slight decline in tourists from the US and Asia, the Group s flagship hotel The Mira Hong Kong experienced a slightly weaker performance, despite successfully maintaining average room rates.
Our Food and Beverage Business recorded a reduced loss following revitalization new orleans haunted hotels plans and initiatives to improve operating efficiency new orleans haunted hotels in both Hong Kong and China. However, the Group s Apparel Business new orleans haunted hotels in China recorded new orleans haunted hotels a deteriorated operating new orleans haunted hotels loss during the Reporting Period. Overall, we expect our careful execution new orleans haunted hotels of a balanced business strategy and focus on compelling products and services will continue to deliver sustainable growth and reward shareholders with still better returns.
Property Rental Business
Despite a slowed new orleans haunted hotels growth new orleans haunted hotels momentum of leasing demand, partly new orleans haunted hotels triggered by companies adjusting to a slower economic forecast in China, the Group s investment property portfolio, which includes Mira Mall, Miramar Shopping Centre and Miramar Tower, continued to be the major profit contributor for the Group in the first six months of 2013.
Continuing to benefit from long-term new orleans haunted hotels leases with loyal tenants, the properties rent and occupancy rates remained at a healthy level. new orleans haunted hotels In the Reporting Period, the offices and retail spaces generated new orleans haunted hotels stable rental income new orleans haunted hotels with occupancy rates remaining at healthy level.
Asset enhancement, including renovation works and facility refurbishment in recent years, improved trade mix, and regular promotional campaigns continued to bring steady traffic to Miramar Shopping Centre. The Group will undertake a series of asset enhancement programs scheduled to begin in 2014 to maintain an excellent business environment for its tenants and drive rental income for the Group.
Hotel and Serviced Apartment Business
Due in part to the slight new orleans haunted hotels decline in tourists new orleans haunted hotels from the US and North Asian countries, the Group s flagship hotel The Mira Hong Kong experienced a weaker performance compared to Last Corresponding Period, new orleans haunted hotels with occupancy rate marginally lower, whilst average room rate remained steady in the Reporting Period.
The latest addition to the Mira hospitality portfolio Mira Moon continues the strategy to create unique design-led products and services. Mira Moon will appeal to travelers seeking a unique and personalized experience whilst presenting a contemporary abstract interpretation of Chinese tradition in contemporary Hong Kong. The 91-room boutique design hotel is set to launch in Quarter Four 2013.
Food and Beverage Business
In response to softening market conditions and increased competition, the Group took active steps to strengthen operational efficiency, revitalize outlets and reposition its offerings to cater to changing lifestyles. The business recorded a steady performance over the past six months.
Notably, Cuisine Cuisine in Wuhan recorded an improved performance and has successfully repositioned itself as the venue of choice for personal banquets and business events. In Hong Kong, the successful revitalization of French Window Brasserie Bar has reinforced new orleans haunted hotels the approach taken by the Group to cater to a new generation of guests demanding a cosmopolitan brasserie dining experience.
The Group will continue with its multi-brand strategy and expand its food and beverage portfolio by selectively replicating successful brands to strengthen the Group s position in the market. This began with the opening of a modernized Tsui Hang Village, the third of the recognized brand, in Causeway Bay in Quarter Two 2013.
Travel Business
Led by emerging markets in Africa and Latin America, global travel remained resilient to global uncertainty. The Group s travel business continued to grow during the Reporting Period, with the mass-market tour business contributing the majority of the Group s total revenue.
Apparel Business
The Group and its franchisees own and operate new orleans haunted hotels DKNY Jeans stores throughout China. The retail environment in China remained difficult and the Group s Apparel Business in China recorded a deteriorated operating loss during the Reporting Period. new orleans haunted hotels Management is currently new orleans haunted hotels evaluating its Apparel Business strategies.
New Loyalty Program
As a retail and hospitality provider, the Group launched an exclusive membership program named Mira Plus in Quarter Two 2013. Designed to appeal to customers seeking a holistic lifestyle, the Mira Plus Card provides members with a comprehensive offering of dining, hotel, spa, shopping and travel experiences in Hong Kong and China.
Business Outlook
While there is an emerging confidence new orleans haunted hotels in recovery of the US and European economies, an uncertain operating environment is expected to prevail new orleans haunted hotels for the second half of 2013. Despite indications showing growth of China s GDP slowing in the near future, the Group will continue to maintain the growth momentum of its core businesses, through careful execution of its business strategy and prudent financial new orleans haunted hotels management.
Mr. Lee concluded, The Group will strengthen its property portfolio by enhancing its asset value and reinforce its position in the hospitality sector with the roll out of a new Design Hotels™ member hotel, Mira Moon. The Group will also step up its initiatives to reinvent diner experiences and seek out new opportunities to expand its Food and Beverage Business, by selectively replicating its successful brands to better position itself for sustainable growth.
Miramar Group has stable core revenue and strong liquidity. We will continue to pursue growth new orleans haunted hotels in its core businesses by expanding our offering with compelling products and services. We will also continue to strengthen expertise and nurture talent, developing the framework to implement effective strategies new orleans haunted hotels for a sustainable growth.
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