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[KopiKat]

I should have known better to not let my personal interpretation exposed to the public domain.

It is just my practice to exclude other income or other operating income to compute operating margin.

My three percent margin (actual 3.06%) excludes $15.021m. The 5.94% you got includes other operating income of $15.021m

Thx for sharing!

I ought to have known better and not let myself be blinded by my being vested and missed out such an important figure!

9mths FY12 figure is $2.571M vs $2.516M (FY11) but unlikely to increase to the same extent as the $15.021M of FY11 for FY12 as they'd reversed all their impairment last year. The Operating Margin will unlikely be the same skinny 3% of FY11, most likely 6%+.

I reproduce the FY11 part (pg 13) on this Other Operating Income for reference,

Other operating income decreased mainly due to a reversal of $21.7million in FY2010, out of the $28.2million impairment for development properties provided for FY2009 to reflect the impact of market price fluctuation. The remaining $6.5million impairment was reversed in FY2011. Reduction in income received from Government’s Job Credit Scheme also contributed to the decrease. The decrease was partially offset by the increase in foreign exchange gain recorded for the year as a result of the depreciation of the Hong Kong dollars.