Sun Hung Kai Properties' (0016) underlying net profit for the year ended June 30, which excludes the effect of fair-value changes on investment properties, rose 4.55 percent year-on-year to HK$22.85 billion, boosted by strong property sales in Hong Kong.
Net profit also grew 11.1 percent to HK$21.43 billion.
It declared a final dividend of HK$2.93 per share, bringing the full-year dividend to HK$3.91 per share, up around 4.3 percent from a year ago.
Revenue jumped 18.15 percent to HK$94.19 billion, primarily driven by a 43.2 percent increase in revenue from property development to HK$48.52 billion.
The developer's contracted sales in Hong Kong generated HK$38.1 billion.
SHKP said it recorded a land bank of approximately 56.4 million square feet of gross floor area in Hong Kong, adding that it will continue to replenish its land bank in the city when opportunities arise to support future business growth.
In the rental business, its gross rental income, inclusive of contributions from joint ventures and associates, inched up 2 percent to HK$24.99 billion.
Its retail portfolio occupancy reached 95 percent, while the two IFC towers in Central and ICC in West Kowloon achieved occupancy of close to 100 percent and about 92 percent, respectively.
Regarding Northern Metropolis, SHKP said it's developing eight projects in the area, providing around 10,000 residential units.
Besides, the group received a total cash compensation of about HK$1.1 billion from land resumption by the government, resulting mainly from the resumption of certain land lots in San Tin, Hung Shui Kiu/Ha Tsuen New Development Area and along the Northern Link Main Line.
In addition, land lots with a total site area of about 2.1 million sq ft, primarily in San Tin Technopole and Hung Shui Kiu/Ha Tsuen New Development Area, will be resumed, with the corresponding compensation of HK$2.2 billion to be recognized in the financial year 2026/27.
