Sun Hung Kai Properties (SHKP) has reported underlying profit attributable to shareholders of HK$36.24 billion (US$4.67 billion), a 44% increase compared to the previous year. This figure surpassed analysts’ expectations, driven primarily by robust property sales in Hong Kong and mainland China.
The strong performance was also attributed to effective cost control measures implemented throughout the year. Rental income from the company’s extensive property portfolio also contributed positively to the overall results.
Key highlights from the report include:
- Significant increase in property sales revenue.
- Strong rental income from investment properties.
- Effective cost management strategies.
- Positive outlook for the Hong Kong and mainland China property markets.
The company expressed optimism about the future, citing continued demand for quality residential and commercial properties in the region. SHKP plans to launch several new projects in the coming year to capitalize on this demand.
Analysts have reacted positively to the results, noting the company’s strong financial position and its ability to navigate the challenging economic environment.
