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Sun Hung Kai's fiscal H1 underlying profit climbs 36.7% YOY


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Sun Hung Kai's fiscal H1 underlying profit climbs 36.7% YOY

Sun Hung Kai Properties Ltd. said its underlying profit attributable to shareholders for the fiscal six months ended Dec. 31, 2017, totaled HK$19.97 billion, an increase of 36.7% from HK$14.61 billion in the year-earlier period.

Underlying earnings per share for the period was HK$6.90, representing a gain of 36.6% from HK$5.05 per share in the year-earlier period.

The company attributed the increase to the fact that most of its development projects in Hong Kong slated for the financial year were completed during the first half.

Reported profit attributable to shareholders grew 59.9% year over year to HK$33.03 billion, up from HK$20.66 billion.

Reported EPS attributable to shareholders was HK$11.40 per share, compared to HK$7.14 per share in the year-ago period.

Revenue from property sales for the six-month reporting period grew 32.3% year over year to HK$34.58 billion from HK$26.15 billion.

Sun Hung Kai's board declared an interim dividend payment of HK$1.20 per share, reflecting an increase of 9% compared to the year-ago period. The dividend is payable to shareholders March 22.