Emperor profit rises to $1.5b

Business | Tereza Cai 13 Jun 2019

Emperor International's (0163) underlying net profit for the year ended March 31, 2019, rose 142 percent year-on-year to HK$1.5 billion, and a final dividend of 6.3 HK cents was declared.

Net profit fell 7 percent to HK$3.14 billion while total revenue grew 38.2 percent to HK$4.35 billion, mainly due to sales of residential units.

Rental income from investment properties portfolio declined 4 percent to HK$1.11 billion, representing 25.4 percent of total revenue. Revenue from property sales spiked 3.3 times from a year earlier to HK$1.7 billion since all residential units of The Amused and seven houses of Peak Castle were delivered to customers.

Revenue from hotels and hotel-related operations slightly declined to HK$1.55 billion, accounting for 35.6 percent of total revenue.

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