For the year ended 30 June 2010 (“the Period”), the total revenue of the Group increased by 150% to HK$13.63 billion. Gross profit rose 185% to HK$1.53 billion (2009: HK$538 million). During the Period, profit attributable to shareholders surged 334% to approximately HK$1.14 billion (2009: HK$263 million). Basic earnings per share was HK19.0 cents, up 265% as compared to the previous year. Diluted earnings per share increased to HK15.6 cents from HK5.2 cents in the previous year. A final dividend of HK3.0 cents per share is proposed for the Period under review. During the Period, the Group reported an increase in fair value of derivative financial instruments of approximately HK$355.4 million (2009: HK$56.8 million), which was attributable to the futures contracts entered into by the Group for hedging oil price exposure. Total cash on hand as at 30 June 2010 was approximately HK$2.80 billion (2009: HK$1.02 billion). In July 2010, the Group conducted another placement (after the first placement in April 2010) and raised approximately HK$1 billion to further strengthen our cash and financial position. As at 30 June 2010, total net assets grew by 255% to HK$4.14 billion (2009: HK$1.17 billion). Commenting on the results, Dr. Sit Kwong Lam, Chairman and CEO of the Group, said, “2010 was a significant year for Brightoil Petroleum, delivering record results for our shareholders and further strengthening the Group’s competitive advantages for future development. We will continue to harness our unrivalled position as one of the largest marine bunker suppliers in China and to pursue further exposure around the world, in order to strengthen our global brand recognition and also secure long-term earnings potential. ” Oil Storage & Terminal Business Dredging and reclamation works for phase 1 of the Zhoushan and Dalian projects started on 6 July 2010 and 18 June 2010 respectively. Both projects, with a total capacity of up to 17.5 million m3, are scheduled to be completed in phases by 2012 and 2013. The two oil storage and terminal projects located in Dalian and Zhoushan are aimed to taking advantage of their strategic locations with deepwater terminals, supporting our marine bunkering business in major ports along the coastal areas of China, further fortifying our leading position as one of the largest marine bunkering suppliers in the PRC market, as well as becoming a global leader of oil storage and terminal operation. To capture the robust growth of the global marine bunkering business, we relentlessly seek storage and terminal support either through leasing from local operators, strategic partnerships with storage owners or constructing our own facilities.