Sun Hung Kai Properties(00016.HK) interim net profit increased by 36.21% to HKD 10.247 billion, proposing a dividend of HKD 0.98 per share

CK Hutchison Holdings Limited (00016.HK) announced its interim results for the six months ending December 31, 2024. The company’s revenue was HKD 52.705 billion, a 31.98% increase year-over-year; net profit attributable to shareholders was HKD 10.247 billion, a 36.21% increase. Earnings per share were HKD 3.54, with an interim dividend of HKD 0.98 per share.

During the period, excluding the fair value changes of investment properties, the profit attributable to the company’s shareholders was HKD 12.213 billion, compared to HKD 10.463 billion in the same period last year.

The group’s profit from property sales was HKD 4.885 billion, up from HKD 2.506 billion last year. Based on the equity interest, the total contracted sales during the period amounted to approximately HKD 18.9 billion. Including rental income from joint ventures and associates, the group’s total rental income remained stable at HKD 12.285 billion, while net rental income decreased by 1% year-over-year to HKD 8.95 billion.

As of December 31, 2024, the group’s land bank in Hong Kong covers approximately 57.3 million square feet of gross floor area, including about 38.2 million square feet of diversified completed properties, mostly used for leasing and long-term investment, generating substantial recurring income. The remaining approximately 13.2 million square feet are developable residential properties available for sale, supporting the group’s medium-term development needs.

During the period, the property investment portfolio in Hong Kong continued to provide the group with substantial and stable recurring income. Including contributions from joint ventures and associates, the total rental income remained stable at HKD 8.797 billion, with overall occupancy rates maintained at a high level.