25 April 2007
KCRC 2006 Report Published
The 2006 Annual Report of the Kowloon-Canton Railway Corporation (KCRC) was tabled in the Legislative Council today and uploaded on the KCRC website (www.kcrc.com).
The KCRC Chairman Mr. Michael Tien said, "The theme of this year's Annual Report "Meeting Challenges, Preparing for Change" aptly describes what has been an eventful year. It is gratifying to be able to report therefore that the year as a whole ended well, with rail patronage and revenue up. Net profit at $278 million was similar to that of 2005."
The Chief Executive Officer, Mr. James Blake noted the Corporation has remained consistently profitable since 1985, and drew attention to the Corporation’s dedication to environmentally sustainable operations, especially surrounding the opening of the second rail passenger boundary crossing at Lok Ma Chau in mid-2007.
Average daily ridership on East Rail including Ma On Shan Rail edged up 3.2% to 677,000 and that for West Rail increased by 11.7% to 200,100, and Light Rail by 0.2% to 373,800. Whilst the franchised public transport as a whole grew only by some 1.7% in 2006, KCRC’s patronage grew by 3.7%.
Transport revenue increased by 2.9% to $4,746 million. Including revenue from non-transport activities, total revenue increased by 4.4% to $5,622 million. Operating costs before depreciation and amortisation increased only marginally by 0.5% to $ 3,042 million.