Strong Underlying Profit from Property Division
The Property division showed strong underlying profit, benefiting from the disposal of retail properties and land in Miami. The division is 67% committed to its HKD 100 billion investment plan over the next 10 years, with 7 major projects under construction in the Chinese Mainland.
Successful Sales of Residential Properties in Shanghai
Swire Properties successfully sold the first residences in Lujiazui Taikoo Yuan, Shanghai, with two batches nearly sold out within an hour each, marking a major milestone for Swire Properties in the Chinese Mainland residential sector.
Positive Growth in Aviation Sector
The Aviation division performed well, with HAECO achieving a 40% growth in recurring profit and Cathay Pacific showing a solid performance with increased passenger volumes and a consistent cargo performance.
Swire Coca-Cola Expansion
Swire Coca-Cola announced significant investments in new production facilities in the Chinese Mainland, Vietnam, and Hainan. Revenue from the Chinese Mainland increased by 3% with an improved EBITDA margin of 12.8%.
Strong Cash Generation and Dividend Policy
Strong cash generated from operations and a progressive dividend policy with a 4% increase in the ordinary dividend per A Share to HKD 130.