Directors' Interim Report 2001

The Hongkong and Shanghai Hotels, Limited
Interim Results
Consolidated Profit and Loss Statement
Consolidated Statement of Recognised Gains and Losses
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Significant Accounting Policies
Taxation
Earnings per Share
Debtors and Payments in Advance, and Creditors and Accruals
Segment Reporting
Operating Review
Financial Review
Directors' Interests
Substantial Shareholders' Interests
Purchase, Sale and Redemption of Listed Securities
Corporate Governance
Practice Note 19 of the Listing Rules
Independent Review Report to the Board of Directors of the Hongkong and Shanghai Hotels, Limited