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Report of the Directors



                                                              Report of the Directors





             The directors submit their report together with the audited financial statements for the year ended 31st March
             2016.

             PRINCIPAL ACTIVITIES AND SEGMENT ANALYSIS


             The principal activity of the Company is investment holding. The activities of the subsidiaries are set out in
             Note 18 to the consolidated financial statements.


             Analysis of the Group’s performance for the year by product and geographical area is set out in Note 5 to the
             consolidated financial statements.

             RESULTS AND APPROPRIATIONS


             The results of the Group for the year are set out in the consolidated income statement on pages 27.

             The directors have declared an interim dividend of HK6 cents per ordinary share, totalling HK$34,762,000.


             The directors have declared a special dividend of HK60 cents per ordinary share, totalling HK$347,621,000.

             The  directors  recommended  the  payment  of  a  final  dividend  of  HK30  cents  per  ordinary  share,  totalling
             HK$173,810,000.

             BUSINESS REVIEW


             A review of the business of the Group during the year as required by Schedule 5 of the Companies Ordinance
             (Chapter 622 of the Laws of Hong Kong) is included in the Report of the Directors and covered by different
             sections in this annual report. Those sections form part of this Report of the Directors.


             ENVIRONMENTAL POLICIES AND PERFORMANCE

             The  Group  is  committed  to  managing  and,  where  possible,  minimizing  environmental  impacts  attributable
             to  its  operation.  The  Group  actively  controls  and  endeavors  to  reduce  emissions  and  waste,  and  uses
             energy  and  resources  in  an  efficient  manner.  It  also  uses  environmental-friendly  production  parts  in  its
             manufacturing operation. In addition, the Group’s management team constantly reviews the effectiveness of
             the environmental protection measures and makes improvement where necessary.






















                                                                      ALCO HOLDINGS LIMITED  ANNUAL REPORT 2016  15
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