Power Asset (0006) reported a profit of HK$3.04 billion for the six months that ended in June, up 1 percent year-on-year, despite ongoing volatility in global markets.
The board has declared an interim dividend of 78 HK cents per share.
Interim revenue fell 22.5 percent year-on-year to HK$352 million.
The UK remains the company’s largest market, contributing HK$1.72 billion in revenue, up 11 percent year-on-year, driven by solid operational performance.
Its Australian portfolio contributed HK$652 million in profit during the period, down 4.26 percent year-on-year, partly due to the lower exchange rate of the Australian dollar as against the Hong Kong dollar.
With an “A/Stable” credit rating from Standard & Poor’s and a net debt-to-capital ratio of 2 percent, the company maintains low gearing and a strong balance sheet, according to an exchange filing.
STAFF REPORTER
