Kerry Properties Reports Decline Amid Market Challenges

Kerry Properties (HK:0683) has released an update.

Kerry Properties Limited reported a 55% year-on-year decrease in profit attributable to shareholders for the first half of 2024, with underlying profit also falling by 19% due to lower revenue recognition from property sales. Despite challenging economic conditions, the company maintained a stable interim dividend of HK$0.40 per share and saw satisfactory sales performance in premium development properties and steady income from its office and retail portfolio. The property market faced headwinds, including high interest rates and weak consumer confidence, contributing to a slowdown in transactions.

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