Henderson Land Development (0012) said its net profit last year inched up 0.2 percent only to HK$9.26 billion amid a slower-than-expected economic recovery, and maintained a final dividend at HK$1.3 apiece.
The underlying profit, excluding the property revaluation gains, expanded by 0.8 percent yearly to HK$9.7 billion.
Total revenue rose 8 percent to HK$27.6 billion. Property sales contributed HK$24.26 billion, up by 4 percent, though the income from Hong Kong dipped 5 percent to HK$14.76 billion. Property rentals in the city, in contrast, grew over 4 percent to HK$6.74 billion.
Henderson also revealed that 946 units were sold during the three weeks after the removal of housing curbs, cashing in about HK$5.9 billion.
But the developer still has about 7,100 residential units in this year's pipeline, covering about 3.1 million square feet of gross floor area.
Even after the administration's resumption of land in Kwu Tung North/Fanling North New Development Area, Henderson still has 45.8 million sq ft in land reserves in New Territories, the largest among all developers in Hong Kong.
Meanwhile, Henderson Investment (0097) swung to a net loss of HK$72 million last year from a net profit of HK$5 million a year ago and declared no final dividend. It cited lower sales from APITA at Taikoo Shing under phased renovations and outbound Hongkongers, in addition to lower demand for supermarket items after the removal of social distancing rules.
