SHKP Quarterly

Group Chairman & Managing Director Raymond Kwok (fourth right) with top management at the 2017/18 full year results announcement 集團主席兼董事總經理郭炳 聯（右四）聯同管理團隊公布 2017/18 全年業績 The Group announces 2017/18 full year results 集團公布 2017/18 全年業績 The Group’s underlying profit attributable to the company’s shareholders for the year ended 30 June 2018, excluding the effect of fair-value changes on investment properties, amounted to HK$30,398 million. Underlying earnings per share were HK$10.49. The directors have recommended the payment of a final dividend of HK$3.45 per share, which together with the interim dividend of HK$1.20 per share, the dividend for the full year will be HK$4.65 per share, an increase of 13.4% from last year. During the year under review, revenue from property sales as recorded in the financial statements, including revenue from joint- venture projects, amounted to HK$41,943 million. Profit generated from property sales was HK$16,261 million. The Group achieved contracted sales of about HK$46,000 million for the year in attributable terms. In addition, the Group’s rental income delivered a healthy performance, mainly attributable to continuing positive rental reversions and contributions from new rental properties. Gross rental income, including contributions from joint- venture projects, rose 8% year-on-year to HK$23,682 million while net rental income increased by 9% year-on-year to HK$18,647 million. Sustainable business growth over time The Group’s land bank under development of a relatively low average cost is sufficient to meet development needs for five to six years. To cope with long term development needs, the Group will continue to seek land acquisition opportunities both in Hong Kong and major mainland cities through different means, including the conversion of agricultural land, that provide satisfactory returns. For property sales, contracted sales in Hong Kong since July 2018 have exceeded HK$26,000 million in attributable terms. The Group is confident of being able to achieve, on average, a medium- term annual target of HK$40,000 million from property sales in Hong Kong. As for investment property, the Group’s existing investment portfolio is expected to perform well with satisfactory rental growth in the year ahead. This will be bolstered by broader footprints in Hong Kong and particularly on the mainland. With the gradual completion of the landmark projects over the next five to six years, the Group’s already strong recurrent income base is expected to rise to new levels. V Walk in West Kowloon, Hong Kong and the grand luxury mall at One ITC in Shanghai are scheduled to open next year, underpinning the Group’s rental growth starting from financial year 2019/20. 集團公布截至 2018 年 6 月 30 日止年度，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 303.98 億港元； 每股基礎溢利為 10.49 港元。董事局議決 派發末期股息每股 3 .45 港元，連同中期 股息每股 1.2 港元，全年每股派息 4.65 港 元，較上年增加 13.4% 。 回顧年內，連同合作項目的收入，財務 報表錄得的物業銷售收入為 419.43 億港 元，為集團帶來 162.61 億港元溢利。按 所佔權益計算，集團在年內錄得的合約銷 售額約達 460 億港元。另外，集團租金收 入穩健增長，主要受惠於續租租金持 續上升，以及新收租物業帶來收益。 連同合作項目租金收入計算，總租金 收入按年上升 8% 至 236.82 億港元，淨 租金收入按年上升 9% 至 186 . 47 億港 元。 業務將可長期持續增長 集團擁有充足的發展中土地儲備，足 夠未來五至六年發展，平均成本相對 為低。為配合長期發展需要，集團 將在香港及內地主要城市繼續物色機 會，利用不同途徑補充土地儲備，包 括更改農地用途，購入有合理回報的 土地。在物業銷售方面，自 2018 年 7 月至今，按所佔權益計算，單單香港 的合約銷售額已超過 260 億港元，集團 有信心完成平均每年 400 億港元的香港 物業銷售中期目標。 在物業投資方面，預期現有的投資組 合在來年繼續有良好表現及租金增 長，並將受惠於在香港及特別在內地 物業投資版圖進一步擴展。隨著多個 地標性項目在未來五至六年陸續落 成，集團雄厚的經常性收入將進一步 提升至更高水平。香港西九龍 V Walk 及上海國貿匯的高級商場計劃於明年 開業，有助集團 2019/20 財政年度起 的租金增長。 Corporate News Vol 89 • Q3 2018 • SHKP Quarterly 16