Financial Highlights

Annual Results

(in HK$’ million, unless otherwise specified) 2023 2022 2021 2020 2019
For the year ended 30 June :          
Revenue 783.3 802.9 799.3 854.6 850.7
Property operating expenses 159.3 161.0 159.6 169.9 168.2
Net property income 624.0 641.9 639.7 684.7 682.5
Cost-to-income ratio (%) 20.3 20.1 20.0 19.9 19.8
Profit / (loss) after taxation (28.4) 102.9 (233.7) (751.4) 1,591.1
Annual distributable income 380.3 431.1 438.3 467.0 467.3
DPU (HK cents) 22.0 25.0 25.6 26.8 27.3
Payout ratio (%)
97.9 97.4 97.5 95.2 96.4
At 30 June :          
Portfolio valuation 18,512.2 18,095.2 18,341.7 18,918.0 20,002.5
Total assets 19,217.9 18,960.4 19,199.7 19,674.1 20,805.8
Total liabilities 5,548.7 4,909.0 5,075.4 4,902.9 4,813.9
Net asset value 13,669.2 14,051.4 14,124.3 14,771.2 15,991.9
Net asset value per unit (HK$) 8.06 8.36 8.45 8.89 9.68
Gearing ratio (%) 26.1 23.3 23.0 21.6 20.4

 

Interim Results

(in HK$’ million, unless otherwise specified)    
  12 months ended 30 June 2024 Six months ended  31 December 2023
Revenue 830.2 419.2
Property operating expenses 182.2 96.1
Net property income 648.0 323.2
Cost-to-income ratio (%) 21.9 22.9
Profit / (loss) after taxation 159.2 79.7
Distributable income 333.9 162.3
DPU (HK cents) 18.1 9.0
Payout ratio (%) 92.6 94.4
  At 30 June 2024 At 31 December 2023
Portfolio valuation 18,418.6 18,480.6
Gross assets 19,056.6 19,083.4
Gross liabilities 5,561.0 5,538.8
Net asset value 13,495.6 13,544.6
Net asset value per unit (HK$) 7.87 7.95
Gearing ratio (%) 26.3 26.3
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