Five-Year Financial Summary

Consolidated Income Statement

For the year ended 30 June

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M
Group Revenue 71,195 77,747 85,262 82,653 85,302
Segment revenue (including share of joint ventures and associates) 83,381 88,340 97,130 93,024 97,414
Segment operating profit (including share of joint ventures and associates) 34,689 39,010 44,176 40,781 44,388
Underlying profit attributable to the Company’s shareholders1 23,885 28,729 29,873 29,368 32,398
Net effect of change in fair value of investment properties 22 (3,169) (3,187) (5,847) 12,514
Profit attributable to the Company’s shareholders 23,907 25,560 26,686 23,521 44,912
Dividends attributable to the Company’s shareholders 14,344 14,344 14,344 14,344 13,617

 

 

Key Segment Revenue and Operating Profit (including share of joint ventures and associates)

For the year ended 30 June

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M
Segment Revenue          
– Property sales 29,116 35,403 46,017 41,264 41,313
– Property rental 24,322 24,810 24,791 24,214 25,077
– Other businesses 29,943 28,127 26,322 27,546 31,024
  83,381 88,340 97,130 93,024 97,414
Segment operating profit          
– Property sales 11,299 15,847 20,994 18,377 18,697
– Property rental 18,461 19,250 19,149 18,565 19,678
– Other businesses 4,929 3,913 4,033 3,839 6,013
  34,689 39,010 44,176 40,781 44,388

 

 

Consolidated Statement of Financial Position

As at 30 June

2023
HK$M

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M
Investment properties 403,559 398,729 395,879 380,717 386,612
Property, plant and equipment 47,168 44,955 42,921 40,825 35,862
Associates and joint ventures 101,354 101,392 101,481 78,782 73,751
Other non-current assets 11,127 12,841 13,305 13,845 12,522
Properties for sale 211,639 207,136 200,934 196,153 196,107
Bank deposits and cash 15,280 20,323 21,781 31,705 22,038
Assets of subsidiaries contracted for sale - - - 37,584 -
Other current assets 15,864 22,191 20,118 18,220 24,270
Total assets 805,991 807,567 796,419 797,831 751,162
Bank and other borrowings (125,053) (124,931) (116,823) (112,606) (95,006)
Other liabilities (74,142) (75,892) (79,970) (94,810) (80,337)
Net assets 606,796 606,744 599,626 590,415 575,819
Share capital 70,703 70,703 70,703 70,703 70,683
Reserves 531,352 531,243 523,117 501,110 495,722
Shareholders’ equity 602,055 601,946 593,820 571,813 566,405
Perpetual capital securities - - - 3,813 3,813
Non-controlling interests 4,741 4,798 5,806 14,789 5,601
Total equity 606,796 606,744 599,626 590,415 575,819
Net debt 109,773 104,608 95,042 80,901 72,968

 

 

Key Financial Information and Ratios

 

2023
HK$

2022
HK$

2021
HK$

2020
HK$

2019
HK$
Per share data          
Reported earnings per share (basic) 8.25 8.82 9.21 8.12 15.50
Underlying earnings per share (basic) 8.24 9.91 10.31 10.13 11.18
Dividends per share 4.95 4.95 4.95 4.95 4.95
Shareholders’ equity per share 207.80 207.70 204.90 197.30 195.50
           
Financial ratios          
Net debt to shareholders’ equity (%) 18.2 17.4 16.0 14.1 12.9
Interest cover (times) 6.8 12.8 13.8 11.8 14.6
Dividend payout (%)2 60.1 49.9 48.0 48.9 44.3

 

 

Notes:

  1. Underlying profit attributable to the Company’s shareholders excluded the net effect of change in the valuation of investment properties
  2. Dividend payout based on underlying profit