|
LDMT 2 OF 2004
IN THE LANDS TRIBUNAL OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
MTR Ordinance Application No. 2 of 2004
_______________
Between
| |
McDonald’s Restaurants (Hong Kong) Limited |
Applicant |
| |
And |
|
| |
Director of Lands |
Respondent |
_______________
Before: H. H. Judge Yung, Presiding Officer of the Lands Tribunal and Mr. W. K. LO, Member of the Lands Tribunal
Date of Hearing: 28th August 2006, 29th August 2006, 30th August 2006 and 31st August 2006
Date of Judgment: 22nd December 2006
_____________________
C O R R I G E N D U M
______________________
The adopted percentage of variable expenses to turnover, as a simple average of percentages calculated for years from 1995 to 1998 should be 19.61%, instead of 18.78%, as show in the calculations at TABLE 2 of the Judgment. The revised TABLE 2 is appended below: -
Revised TABLE 2 (a)
| |
Affected Period
(25 Aug 1995 to 27 Aug 1998) |
| |
25 Aug 1995
to
31 Dec 1995 |
01 Jan 1996
to
31 Dec 1996 |
01 Jan 1997
to
31 Dec 1997 |
01 Jan 1998
to
27 Aug 1998 |
Total |
| Product sales |
|
|
|
|
|
| Projected product sales |
$10,999,761 |
$29,644,742 |
$26,562,259 |
$15,833,832 |
$83,040,594 |
| Less: Actual product sales |
$9,034,556 |
$23,861,324 |
$21,117,440 |
$13,719,045 |
$67,732,365 |
| Drop in product sales (P) |
$1,965,205 |
$5,783,418 |
$5,444,819 |
$2,114,787 |
$15,308,229 |
| Gross profit ratio (Q) |
62.65% |
64.19% |
64.07% |
66.06% |
- |
| Shortfall in gross profit (R = P x Q) |
$1,231,201 |
$3,712,376 |
$3,488,496 |
$1,397,028 |
$9,829,101 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Premium sales |
|
|
|
|
|
| Premium sales as % of product sales |
2.12% |
1.30% |
1.61% |
2.11% |
- |
| Projected premium sales |
$233,195 |
$385,382 |
$427,652 |
$334,094 |
$1,380,323 |
| Less: Actual Premium sales |
$191,215 |
$310,392 |
$340,847 |
$289,953 |
$1,132,407 |
| Drop in premium sales (S) |
$41,980 |
$74,990 |
$86,805 |
$44,141 |
$247,916 |
| Gross profit ratio (T) |
0% |
0% |
7.22% |
32.28% |
- |
| Shortfall in gross profit (U = S x T) |
0 |
0 |
$6,267 |
$14,249 |
$20,516 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Drop in sales (V = P + S) |
$2,007,185 |
$5,858,408 |
$5,531,624 |
$2,158,928 |
$15,556,145 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Shortfall in turnover’s gross profit (W = R + U) |
$1,231,201 |
$3,712,376 |
$3,494,763 |
$1,411,277 |
$9,849,617 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Less |
|
|
|
|
|
| Savings in variable expenses (X = 19.61% (b) x V) |
$393,609 |
$1,148,834 |
$1,084,751 |
$423,366 |
$3,050,560 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Pecuniary loss (W – X) |
$837,592 |
$2,563,542 |
$2,410,012 |
$987,911 |
$6,799,057 |
Notes:
(a) This TABLE 2 follows the format of the hearing document Bundle C-40.
(b) The adopted percentage of variable expenses to turnover is a simple average of percentages calculated for years from 1995 to 1998.
As a result of this correction, we work out the compensation at $6,799,057 which is rounded to $6.8 million. This is to replace the sum of $6.9 million as stated in paragraph 21 of the Judgment.
| |
(I. KWOK)
Clerk to H. H. Judge YUNG |
Dated this the 25th day of January 2007
|