Five-Year Financial Summary

Consolidated Income Statement

For the year ended 30 June

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M

2018
HK$M
Group Revenue 77,747 85,262 82,653 85,302 85,644
Segment revenue (including share of joint ventures and associates) 88,340 97,130 93,024 97,414 96,697
Segment operating profit (including share of joint ventures and associates) 39,010 44,176 40,781 44,388 40,866
Underlying profit attributable to the Company’s shareholders1 28,729 29,873 29,368 32,398 30,398
Net effect of change in fair value of investment properties (3,169) (3,187) (5,847) 12,514 19,553
Profit attributable to the Company’s shareholders 25,560 26,686 23,521 44,912 49,951
Dividends attributable to the Company’s shareholders 14,344 14,344 14,344 13,617 12,167

 

 

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

For the year ended 30 June

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M

2018
HK$M
Segment Revenue          
– Property sales 35,403 46,017 41,264 41,313 41,943
– Property rental 24,810 24,791 24,214 25,077 23,682
– Other businesses 28,127 26,322 27,546 31,024 31,072
  88,340 97,130 93,024 97,414 96,697
Segment operating profit          
– Property sales 15,847 20,994 18,377 18,697 16,261
– Property rental 19,250 19,149 18,565 19,678 18,647
– Other businesses 3,913 4,033 3,839 6,013 5,958
  39,010 44,176 40,781 44,388 40,866

 

 

Consolidated Statement of Financial Position

As at 30 June

2022
HK$M

2021
HK$M

2020
HK$M

2019
HK$M

2018
HK$M
Investment properties 398,729 395,879 380,717 386,612 369,477
Property, plant and equipment 44,955 42,921 40,825 35,862 34,587
Associates and joint ventures 101,392 101,481 78,782 73,751 71,767
Other non-current assets 12,841 13,305 13,845 12,522 14,531
Properties for sale 207,136 200,934 196,153 196,107 177,367
Bank deposits and cash 20,323 21,781 31,705 22,038 26,095
Assets of subsidiaries contracted for sale - - 37,584 - -
Other current assets 22,191 20,118 18,220 24,270 21,662
Total assets 807,567 796,419 797,831 751,162 715,486
Bank and other borrowings (124,931) (116,823) (112,606) (95,006) (91,434)
Other liabilities (75,892) (79,970) (94,810) (80,337) (75,620)
Net assets 606,744 599,626 590,415 575,819 548,432
Share capital 70,703 70,703 70,703 70,683 70,612
Reserves 531,243 523,117 501,110 495,722 468,486
Shareholders’ equity 601,946 593,820 571,813 566,405 539,098
Perpetual capital securities - - 3,813 3,813 3,887
Non-controlling interests 4,798 5,806 14,789 5,601 5,447
Total equity 606,744 599,626 590,415 575,819 548,432
Net debt 104,608 95,042 80,901 72,968 65,339

 

 

Key Financial Information and Ratios

 

2022
HK$

2021
HK$

2020
HK$

2019
HK$

2018
HK$
Per share data          
Reported earnings per share (basic) 8.82 9.21 8.12 15.50 17.24
Underlying earnings per share (basic) 9.91 10.31 10.13 11.18 10.49
Dividends per share 4.95 4.95 4.95 4.95 4.65
Shareholders’ equity per share 207.70 204.90 197.30 195.50 186.09
           
Financial ratios          
Net debt to shareholders’ equity (%) 17.4 16.0 14.1 12.9 12.1
Interest cover (times) 12.8 13.8 11.8 14.6 17.6
Dividend payout (%)2 49.9 48.0 48.9 44.3 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