Five-Year Financial Summary

Consolidated Income Statement

For the year ended 30 June

2024
HK$M

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M
Group Revenue 71,506 71,195 77,747 85,262 82,653
Segment revenue (including share of joint ventures and associates) 83,636 83,381 88,340 97,130 93,024
Segment operating profit (including share of joint ventures and associates) 32,359 34,689 39,010 44,176 40,781
Underlying profit attributable to the Company’s shareholders1 21,739 23,885 28,729 29,873 29,368
Net effect of change in fair value of investment properties (2,693) 22 (3,169) (3,187) (5,847)
Profit attributable to the Company’s shareholders 19,046 23,907 25,560 26,686 23,521
Dividends attributable to the Company’s shareholders 10,867 14,344 14,344 14,344 14,344

 

 

Key Segment Revenue and Operating Profit (including share of joint ventures and associates)

For the year ended 30 June

2024
HK$M

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M
Segment Revenue          
– Property sales 27,422 29,116 35,403 46,017 41,264
– Property rental 24,991 24,322 24,810 24,791 24,214
– Other businesses 31,223 29,943 28,127 26,322 27,546
  83,636 83,381 88,340 97,130 93,024
Segment operating profit          
– Property sales 7,850 11,299 15,847 20,994 18,377
– Property rental 19,000 18,461 19,250 19,149 18,565
– Other businesses 5,509 4,929 3,913 4,033 3,839
  32,359 34,689 39,010 44,176 40,781

 

 

Consolidated Statement of Financial Position

As at 30 June

2024
HK$M

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M
Investment properties 408,424 403,559 398,729 395,879 380,717
Property, plant and equipment 50,190 47,168 44,955 42,921 40,825
Associates and joint ventures 101,055 101,354 101,392 101,481 78,782
Other non-current assets 9,762 11,127 12,841 13,305 13,845
Properties for sale 214,077 211,639 207,136 200,934 196,153
Bank deposits and cash 16,221 15,280 20,323 21,781 31,705
Assets of subsidiaries contracted for sale - - - - 37,584
Other current assets 18,365 15,864 22,191 20,118 18,220
Total assets 818,094 805,991 807,567 796,419 797,831
Bank and other borrowings (127,087) (125,053) (124,931) (116,823) (112,606)
Other liabilities (79,936) (74,142) (75,892) (79,970) (94,810)
Net assets 611,071 606,796 606,744 599,626 590,415
Share capital 70,703 70,703 70,703 70,703 70,703
Reserves 536,014 531,352 531,243 523,117 501,110
Shareholders’ equity 606,717 602,055 601,946 593,820 571,813
Perpetual capital securities - - - - 3,813
Non-controlling interests 4,354 4,741 4,798 5,806 14,789
Total equity 611,071 606,796 606,744 599,626 590,415
Net debt 110,866 109,773 104,608 95,042 80,901

 

 

Key Financial Information and Ratios

 

2024
HK$

2023
HK$

2022
HK$

2021
HK$

2020
HK$
Per share data          
Reported earnings per share (basic) 6.57 8.25 8.82 9.21 8.12
Underlying earnings per share (basic) 7.50 8.24 9.91 10.31 10.13
Dividends per share 3.75 4.95 4.95 4.95 4.95
Shareholders’ equity per share 209.40 207.80 207.70 204.90 197.30
           
Financial ratios          
Net debt to shareholders’ equity (%) 18.3 18.2 17.4 16.0 14.1
Interest cover (times) 4.6 6.8 12.8 13.8 11.8
Dividend payout (%)2 50.0 60.1 49.9 48.0 48.9

 

 

Notes:

  1. Underlying profit attributable to the Company’s shareholders excluded the net effect of change in the valuation of investment properties
  2. Dividend payout based on underlying profit