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CK Asset H1 attributable profit drops 38.9% YOY

CK Asset Holdings Ltd.'s first-half profit attributable to shareholders came to HK$4.10 per share, a decrease of 38.7% from HK$6.69 per share in the prior-year period.

Profit attributable to shareholders totaled roughly HK$15.13 billion, a decline of 38.9% from HK$24.75 billion in the first half of 2018. The company noted that the macroeconomic and political environment remained challenging during the six-month period.

The real estate development group's revenue increased 41.0% on an annual basis in the reporting period to nearly HK$34.01 billion from approximately HK$24.12 billion.

CK Asset declared a per-share interim dividend of 52 cents, compared with an interim dividend of 47 cents per share declared in the previous-year period. The distribution will be paid Sept. 12 to shareholders of record as of Sept. 3.

The developer's affiliate, CK Hutchison Holdings Ltd., recorded first-half profit attributable to ordinary shareholders of HK$18.32 billion, an increase of 2% from roughly HK$18.02 billion in the year-ago period.

EPS increased 2% year over year to HK$4.75 from HK$4.67. Revenue declined 3% year over year to HK$217.06 billion from about HK$224.51 billion.

The company's EBITDA totaled nearly HK$65.69 billion, compared with HK$55.35 billion in the prior-year period.