Sun Hung Kai Properties Sees Rise in Underlying Profit Amidst Rental Income Decline

Sun Hung Kai Properties ( (HK:0016) ) has provided an announcement.

Sun Hung Kai Properties reported an increase in underlying profit attributable to shareholders for the six months ending December 31, 2024, reaching HK$10,463 million, up from HK$8,906 million in the previous year. Despite a decrease in reported profit due to fair value changes in investment properties, the company maintained its interim dividend at HK$0.95 per share. The company achieved HK$2,506 million in profit from property sales and recorded contracted sales of approximately HK$25,500 million. However, rental income saw a slight decline, with gross rental income decreasing by 1% and net rental income by 3% year-on-year. The company also expanded its land bank by acquiring two new residential sites, totaling 465,000 square feet, to support its medium-term development needs.

More about Sun Hung Kai Properties

Sun Hung Kai Properties is a prominent real estate company based in Hong Kong, primarily engaged in property development and investment. The company focuses on residential, commercial, and retail properties, with a significant presence in the Hong Kong market.

YTD Price Performance: 0.95%

Average Trading Volume: 3,538

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $27.81B

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