Financial Highlights

Annual Results

(in HK$’ million, unless otherwise specified) 2018 2017 2016 2015 2014
For the year ended 30 June :          
Revenue 817.4 788.1 769.7  754.4 688.9
Property operating expenses 171.3 164.7 161.2  167.8 153.8
Net property income 646.1 623.4 608.5  586.6 535.1
Cost-to-income ratio (%) 21.0 20.9 20.9  22.2 22.3
Profit after taxation 1,442.3 743.5 825.3  1,902.7 1,230.0
Annual distributable income 450.5 434.5 415.0  375.2 342.8
DPU (HK cents)Note 26.5 33.0 24.3  22.0 20.0
Payout ratio (%)Note
96.7 124.3 95.8  95.9 94.8
At 30 June :          
Portfolio valuation 18,754.8 17,062.4 16,651.0  17,035.3 15,390.6
Total assets 19,631.3 18,297.8 17,925.0  17,897.7 16,151.9
Total liabilities 4,774.3 4,398.3 4,406.9  4,800.6 4,657.0
Net asset value 14,857.0 13,899.5 13,518.1  13,097.1 11,494.9
Net asset value per unit (HK$) 9.03 8.49 8.26  7.99 7.06
Gearing ratio (%) 21.8 21.5 21.9  22.0 24.3
   
Note :   A special distribution of HK 7.5 cents was included in 2017. Excluding the special distribution, the payout ratio for 2017 would have been 96.1%.

 


Interim Results

(in HK$’ million, unless otherwise specified)    
  Six months ended 31 December 2017 Six months ended 31 December 2016
Revenue 399.3 383.6
Property operating expenses 89.1 84.4
Net property income 310.2 299.2
Cost-to-income ratio (%) 22.3 22.0
Profit after taxation 935.1 278.9
Distributable income 214.1 205.1
DPU (HK cents) 12.6 12.2
Payout ratio (%) 96.6 97.3
  At 31 December 2017 At 30 June 2017
Portfolio valuation 18,535.1 17,062.4
Total assets 19,244.8 18,297.8
Total liabilities 4,718.4 4,398.3
Net asset value 14,526.4 13,899.5
Net asset value per unit (HK$) 8.85 8.49
Gearing ratio (%) 22.1 21.5