Page 34 -

Report of the Directors

RESERVES

Movements in the reserves of the Group and of the Company during the year are set out in Note 26 and Note
32 to the consolidated financial statements respectively.

DONATIONS

Charitable and other donation made by the Group during the year amounted to HK$23,000.

PROPERTY, PLANT AND EQUIPMENT

Details of the movements in property, plant and equipment of the Group are set out in Note 14 to the
consolidated financial statements.

PRINCIPAL PROPERTIES

Details of the principal properties held for investment purposes are set out on page 105.

SHARE CAPITAL

Details of the movements in the share capital of the Company are set out in Note 25 to the consolidated
financial statements.

DISTRIBUTABLE RESERVES

Distributable reserves of the Company at 31st March 2017 amounted to HK$720,601,000 (2016:
HK$749,247,000), comprising retained earnings and contributed surplus.

FIVE-YEAR FINANCIAL SUMMARY

A summary of the results and of the assets and liabilities of the Group for the last five financial years is set out
on page 106.

PURCHASE, SALE OR REDEMPTION OF SHARES

Neither the Company nor its subsidiary companies has purchased or sold any of the Company’s shares
during the year ended 31st March 2017 and the Company has not redeemed any of its shares during the
same financial year.

32 ALCO HOLDINGS LIMITED ANNUAL REPORT 2017