SHK PPT(00016) released its annual performance results, with a net profit attributable to shareholders of HKD 23.907 billion, a decrease of 6.47% compared to the previous year. The final dividend per share is HKD 3.7.

SHK PPT (00016) has announced its annual performance for the period ending June 30, 2023, with a revenue of approximately HKD 71.195 billion, a decrease of 8.43% compared to the previous year. The net profit attributable to shareholders of the company is HKD 23.907 billion, a decrease of 6.47% compared to the previous year. The earnings per share is HKD 8.25, and the final dividend per share is HKD 3.7. Among them, the sales revenue of Hong Kong properties (including joint ventures) decreased by 27% to HKD 23.866 billion. The decrease is mainly due to a significant decrease in the delivery of residential units compared to the previous year, and the main source of revenue comes from the sale of residential projects such as NOVO LAND Phase 1A and 1B, The YOHO Hub Phase 1, Wetland Seasons Bay Phase 3, The Amber Residences Phase 2, and KENNEDY 38. The surplus from property development decreased by 43% to HKD 8.474 billion, reflecting lower sales delivery and gross profit margin. The blended gross profit margin for this year is 36%, while it was 45% the previous year. The sales revenue of mainland properties (including joint ventures) increased by 108% to HKD 5.25 billion, mainly due to more sales deliveries. The surplus from property development increased by 178% to HKD 2.825 billion. The surplus mainly comes from the sale of residential projects such as Lung King Heen Phase 4C, L'Hotel de Ville Phase 3, and Mira Place Phase 3A. The investment in Hong Kong properties, including joint ventures and associate companies, saw a 1% increase in rental income to HKD 17.738 billion, while net rental income increased slightly to HKD 13.249 billion. The increase in rental income is mainly due to the increase in contribution from the retail property portfolio offsetting the decrease in contribution from the office property portfolio. The income from the retail property portfolio increased by 2% to HKD 9.055 billion, mainly due to continued growth in merchants' sales in the first half of 2023, but the income from the office property portfolio decreased mildly by 2% to HKD 6.205 billion due to lower rental income from lease renewals. The investment property portfolio in mainland China, including joint ventures, saw a decrease in rental income and net rental income by 11% and 16% to HKD 5.843 billion and HKD 4.648 billion, respectively. Excluding the impact of exchange rates, rental income decreased by 4% to RMB 5.215 billion, compared to RMB 5.433 billion in the previous year. The decrease in rental income is mainly due to rental concessions provided by the Group to retail tenants affected by business closures in April and May last year. Before considering rental concessions, the rental income of the retail property portfolio is approximately the same as the previous year. The rental income from the office property portfolio decreased mildly by 2% when calculated in Renminbi.