Swire Properties Ltd. said its underlying profit attributable to shareholders of the company for the full year ended Dec. 31, 2018, totaled HK$10.15 billion, an increase of 29.5% from the HK$7.83 billion it recorded in the prior-year period.
Underlying EPS of the property company grew 29.9% during the comparable period to HK$1.74 from HK$1.34.
Swire Properties' revenue decreased by 20.7% on an annual basis to HK$14.72 billion from HK$18.56 billion, as did its operating profit, which fell year over year to HK$29.36 billion from HK$34.93 billion. The company's net debt also declined by 15% during the comparable period to nearly HK$29.91 billion from about HK$35.35 billion.
For the second half of the 2018 financial year, the real estate developer declared a dividend of 57 Hong Kong cents per share, up by 10% from the 52 cents per share it paid in the year-ago period.
Swire Properties' parent, Swire Pacific Ltd., also saw annual improvement in its underlying profit attributable to shareholders of the company for fiscal year 2018, recording a year-year-year increase of 79.7% to HK$8.52 billion from HK$4.74 billion.
The holding company's revenue rose 5.4% to HK$84.61 billion from the HK$80.29 billion it logged during the previous year. Operating profit decreased to HK$30.89 billion compared with the HK$35.86 billion reported in the prior-year period.
Swire Pacific declared a dividend of HK$3 per share for the year ended Dec. 31, 2018, reflecting a 43% annual improvement from the HK$2.10 per share paid in 2017.