HSBC 2004 Annual Report Download - page 239

HSBC HOLDINGS PLC
Financial Statements
237
Consolidated profit and loss account for the year ended 31 December 2004
2004 2003 2002
Notes US$m US$m US$m
Interest receivable
– interest receivable and similar income arising from
debt securities ............................................................................... 7,845 6,947 7,253
– other interest receivable and similar income ................................ 42,358 33,021 21,342
Interest payable ................................................................................ (19,179) (14,370) (13,135)
Net interest income ........................................................................ 31,024 25,598 15,460
Dividend income .............................................................................. 3601 222 278
Fees and commissions receivable ..................................................... 15,877 12,560 9,245
Fees and commissions payable ........................................................ (2,784) (2,166) (1,421)
Dealing profits ................................................................................. 42,566 2,178 1,313
Other operating income .................................................................... 3,303 2,680 1,720
Operating income............................................................................ 650,587 41,072 26,595
Administrative expenses .................................................................. 5,6 (24,183) (19,685) (13,764)
Depreciation and amortisation
– tangible fixed assets...................................................................... 24 (1,664) (1,382) (1,190)
– intangible assets............................................................................ 23 (28) (15) –
– goodwill........................................................................................ 23 (1,814) (1,450) (854)
Operating profit before provisions ............................................... 22,898 18,540 10,787
Provisions for bad and doubtful debts .............................................. 16 (6,357) (6,093) (1,321)
Provisions for contingent liabilities and commitments ..................... 31 (27) (44) (107)
Amounts written off fixed asset investments ................................... –(106) (324)
Operating profit ............................................................................. 16,514 12,297 9,035
Share of operating profit/(loss) in joint ventures .............................. 5(116) (28)
Share of operating profit in associates ............................................. 287 221 135
Gains/(losses) on disposal of
– investments .................................................................................. 770 451 532
– tangible fixed assets ..................................................................... 32 (37) (24)
Profit on ordinary activities before tax ........................................ 617,608 12,816 9,650
Tax on profit on ordinary activities .................................................. 7(4,507) (3,120) (2,534)
Profit on ordinary activities after tax ........................................... 13,101 9,696 7,116
Minority interests
– equity ........................................................................................... (586) (487) (505)
– non-equity .................................................................................... (675) (435) (372)
Profit attributable to shareholders ............................................... 11,840 8,774 6,239
Dividends ......................................................................................... 9(7,301) (6,532) (5,001)
Retained profit for the year............................................................ 4,539 2,242 1,238
US$ US$ US$
Basic earnings per ordinary share .................................................... 10 1.09 0.84 0.67
Diluted earnings per ordinary share ................................................. 10 1.07 0.83 0.66
Dividends per ordinary share ........................................................... 90.66 0.60 0.53
Movements in reserves are set out in Note 35.
The accompanying notes are an integral part of the Consolidated Financial Statements.
All results are from continuing operations.