SHKP Quarterly

The Group reported underlying profit attributable to the Company’s shareholders for the six months ended 31 December 2016, excluding the effect of fair-value changes on investment properties, amounted to HK$14,608 million. Underlying earnings per share were HK$5.05. The directors declared an interim dividend payment of HK$1.10 per share, an increase of 4.8% from the corresponding period last year. Property development Revenue from property sales for the period under review as recorded in financial statements, including revenue from joint- venture projects, was HK$26,147 million. Profit generated from property sales was HK$8,345 million. Contracted sales in Hong Kong were impressive, notably the first phase of Grand YOHO. For the 11 months ended 31 May 2017, the Hong Kong total contracted sales reached HK$45,000 million in attributable terms, far ahead of the full year target of HK$33,000 million; whereas in the mainland, it recorded an attributable contracted sales of over HK$6,000 million, as compared to the full year target of HK$7,000 million. Property investment Gross rental income, including contributions from joint-venture projects, rose 4% year-on-year to HK$10,803 million and net rental income increased by 4% year-on-year to HK$8,273 million during the period. This healthy performance was attributable to positive rental reversions and higher rents from new leases. Contributions from new investment properties, particularly those on the mainland, also helped drive rental income growth. Positive outlook The Group’s business of property development for sale will continue to perform satisfactorily, supported by a strong project launch pipeline. The Group’s land bank is sufficient to meet development needs for five years, as it plans to complete over 278,700 square metres (three million square feet) of residential floor area for sale per annum in Hong Kong over the next few years. Meanwhile, it is seeking opportunities for land acquisitions, particularly in Hong Kong, through various channels including the conversion of agricultural land. This will help the Group to sustain a high volume of residential production in the medium-to-long term and achieve continuous growth in its core business of property development for sale. In addition, several major investment projects in Hong Kong and on the mainland are expected to be completed over the next five to six years, representing approximately 35% of the Group’s existing portfolio in terms of floor area, including the YOHO MALL extension, Harbour North, a premium shopping mall at MTR Nam Cheong Station, ITC in Shanghai Xujiahui and Nanjing IFC. These new developments are expected to significantly boost the Group’s leading position in the market and overall rental income on completion. Group announces interim results 集團公布中期業績 Group Chairman & Managing Director Raymond Kwok (fourth right) announcing interim results with top management 集團主席兼董事總經理郭炳聯（右四）聯同管理團隊公布中期業績 集團公布截至 2016 年 12 月 31 日止六個月，在撇除投資物業公平值變 動的影響後，可撥歸公司股東基礎溢利為 146.08 億港元；每股基礎盈 利為 5.05 港元。董事局宣布派發中期股息每股 1.10 港元，較上年同期 增加 4.8% 。 地產發展 連同合作項目的收益，回顧期內財務報表錄得的物業銷售收益為 261.47 億港元；來自物業銷售的溢利達 83.45 億港元。在本財政年 度，香港合約銷售表現理想，尤其是元朗 Grand YOHO 第一期。截至 2017 年 5 月 31 日止 11 個月，按所佔權益計算，單單香港合約銷售總額 已達 450 億港元，遠超逾本年度目標 330 億港元；內地方面，按所佔 權益計算，合約銷售總額超過 60 億港元，而本年度目標則為 70 億港 元。 投資物業 回顧期內，連同合作項目租金計算，總租金收入按年上升 4% 至 108.03 億港元，淨租金收入按年上升 4% 至港幣 82.73 億港元。租金收 入表現穩健是由於續租和新租租金上升；新投資物業特別是內地項目 帶來的收益也有助帶動租金收入增長。 對前景充滿信心 在強勁的項目推售計劃下，集團的物業銷售業務將繼續表現理想。集 團擁有充足的發展中土地儲備，足夠未來五年發展；而在未來數年， 每年在香港落成的可供出售住宅樓面將超過 278,700 平方米（ 300 萬 平方呎）。集團也正物色增添土地的機會，特別是香港的地皮，並 通過各種方式包括更改農地用途添置土地，此舉有助集團在中長期 維持住宅落成量在高水平，令物業銷售這項核心業務持續增長。另 外，集團在香港和內地多個主要的新投資物業預計在未來五至六年落 成，以樓面面積計算，大概相當於集團現有投資物業組合的 35% ，包 括 YOHO MALL 形點商場的擴展部分、北角匯、港鐵南昌站的優質商 場、上海徐家匯國貿中心及南京國金中心。有關項目落成後，將顯 著 提高集團的市場領導地位和整體租金收入。 32 簡訊 Vol 84 • Q2 2017 • SHKP Quarterly