Sino Land Co ( (SNLAF) ) has released its Q2 earnings. Here is a breakdown of the information Sino Land Co presented to its investors.
Sino Land Company Limited, a prominent real estate developer based in Hong Kong, operates in the property development, investment, and management sectors, with a diverse portfolio spanning residential, commercial, and hotel properties across Hong Kong, Mainland China, Singapore, and Sydney.
In its latest earnings report for the six months ending December 31, 2024, Sino Land reported an underlying profit attributable to shareholders of HK$2,241 million, a decrease from HK$2,945 million in the previous year. The company maintained its interim dividend at HK15 cents per share, reflecting a stable dividend policy despite the challenging market conditions.
Key financial metrics revealed a decline in revenue from property sales, which totaled HK$2,448 million compared to HK$6,635 million in the previous year, primarily due to reduced sales of residential units and car parking spaces. The Group’s rental revenue also saw a slight decrease, attributed to challenges in the retail sector and changes in consumer behavior. However, the Group’s hotel operations showed resilience, with steady revenue and improved operating profits, supported by a recovery in tourism and effective cost management.
Looking forward, Sino Land remains cautiously optimistic, with a robust land bank of approximately 19.4 million square feet and a pipeline of new projects poised for launch, subject to market conditions. The company is well-positioned to navigate the evolving market landscape, supported by its strong financial position and strategic focus on sustainability and innovation.