Five-Year Financial Summary

Consolidated Income Statement

For the year ended 30 June	2026 HK$M	2025 HK$M	2024 HK$M	2023 HK$M	2022 HK$M
Group Revenue	94,194	79,721	71,506	71,195	77,747
Segment revenue (including share of joint ventures and associates)	110,105	90,119	83,636	83,381	88,340
Segment operating profit (including share of joint ventures and associates)	32,163	32,188	32,359	34,689	39,010
Underlying profit attributable to the Company’s shareholders¹	22,850	21,855	21,739	23,885	28,729
Net effect of change in fair value of investment properties	(1,424)	(2,578)	(2,693)	22	(3,169)
Profit attributable to the Company’s shareholders	21,426	19,277	19,046	23,907	25,560
Dividends attributable to the Company’s shareholders	11,330	10,867	10,867	14,344	14,344

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

For the year ended 30 June	2026 HK$M	2025 HK$M	2024 HK$M	2023 HK$M	2022 HK$M
Segment Revenue
– Property sales	54,191	34,556	27,422	29,116	35,403
– Property rental	24,987	24,461	24,991	24,322	24,810
– Other businesses	30,927	31,102	31,223	29,943	28,127
	110,105	90,119	83,636	83,381	88,340
Segment operating profit
– Property sales	8,292	8,290	7,850	11,299	15,847
– Property rental	18,571	18,392	19,000	18,461	19,250
– Other businesses	5,300	5,506	5,509	4,929	3,913
	32,163	32,188	32,359	34,689	39,010

Consolidated Statement of Financial Position

As at 30 June	2026 HK$M	2025 HK$M	2024 HK$M	2023 HK$M	2022 HK$M
Investment properties	428,505	417,045	408,424	403,559	398,729
Property, plant and equipment	51,636	50,689	50,190	47,168	44,955
Associates and joint ventures	108,049	104,687	101,055	101,354	101,392
Other non-current assets	7,941	8,760	9,762	11,127	12,841
Properties for sale	172,542	197,452	214,077	211,639	207,136
Bank deposits and cash	30,053	16,919	16,221	15,280	20,323
Other current assets	19,024	21,341	18,365	15,864	22,191
Total assets	817,750	816,893	818,094	805,991	807,567
Bank and other borrowings	(97,668)	(110,217)	(127,087)	(125,053)	(124,931)
Other liabilities	(81,358)	(84,302)	(79,936)	(74,142)	(75,892)
Net assets	638,724	622,374	611,071	606,796	606,744
Share capital	70,703	70,703	70,703	70,703	70,703
Reserves	563,233	547,148	536,014	531,352	531,243
Shareholders’ equity	633,936	617,851	606,717	602,055	601,946
Non-controlling interests	4,788	4,523	4,354	4,741	4,798
Total equity	638,724	622,374	611,071	606,796	606,744
Net debt	67,615	93,298	110,866	109,773	104,608

Key Financial Information and Ratios

	2026 HK$	2025 HK$	2024 HK$	2023 HK$	2022 HK$
Per share data
Reported earnings per share (basic)	7.39	6.65	6.57	8.25	8.82
Underlying earnings per share (basic)	7.89	7.54	7.50	8.24	9.91
Dividends per share	3.91	3.75	3.75	4.95	4.95
Shareholders’ equity per share	218.80	213.20	209.40	207.80	207.70

Financial ratios
Net debt to shareholders’ equity (%)	10.7	15.1	18.3	18.2	17.4
Interest cover (times)	8.5	6.0	4.6	6.8	12.8
Dividend payout (%)²	49.6	49.7	50.0	60.1	49.9

Notes:

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