Hysan Development books HK$1.3b underlying income

Business | 13 Aug 2019 12:21 pm

Hysan Development (0014) reported today underlying profit, increased by 8.9 percent to HK$1.39 billion for the first half from the year before.

Turnover was HK$2.08 billion, up 9.1 percent from HK$1.91 billion, from the same period in 2018.

Retail portfolio turnover increased by 4.1 percent to HK$1.001 billion from HK$962 million in 2018. The contribution from turnover rent was HK$49 million, compared with HK$54 million in 2018.

The retail portfolio’s occupancy was 96 percent in the first half, while the office portfolio was 97 percent.

The residential portfolio’s occupancy was 91 percent.

Recurring underlying profit, our key leasing business performance indicator, and

The basic earnings per share based on recurring underlying profit was 133 HK cents compared with  122 HK cents in 2018, up by 8.9 percent.

Reported profit was HK$2.78 billion from HK$3.01 billion in the first half of 2018. This reflected a fair value gain of HK$1.45 billion (HK$1.79 billion in 2018) on investment property valuation.

Hysan Development declared an interim dividend per share of 27 HK cents.

 

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