Kerry Properties net drops to HK$5.4b, to declare special dividend on logistics unit sale

Kerry Properties (0683) said net profit fell by 22 percent to HK$5.4 billion last year due to the net increase in fair value of the investment properties and related tax effects.

Contracted sales surged by 44.7 percent to HK$12.88 billion in 2020. Revenue fell by 19.41 percent to HK$14.52 billion. Earnings per share were HK$3.71.

Kerry Properties declared a final dividend of HK$0.95 per share. The company also intends to declare a special dividend to distribute 25-30 percent of the expected net proceeds of HK$11 billion from the sale of Kerry Logistics Networks (0636) shares to Chinese logistics giant S.F. Holding.