HK Stock Market Move | LANGHAM-SS(01270) rose more than 9%, with a total distributable income of HK$138 million for the full year and a final distribution of 3.2 HK cents.

LANGHAM-SS (01270) rose more than 9%, as of press time, it rose by 9.26% to 0.59 Hong Kong dollars, with a turnover of 1.5417 million Hong Kong dollars. On the news front, on the evening of February 11, Langham announced that for the year ended December 31st, the profit attributable to shareholders of the company was 54.2 million Hong Kong dollars, down 76.6%, with distributable income of 138 million Hong Kong dollars, up 21.9%. The final distribution per share was 3.2 Hong Kong cents, an increase of 1 times. The group stated that the hotel portfolio revenue was approximately 1.58 billion Hong Kong dollars, down 0.8%, with operating gross profit before global marketing expenses deduction of approximately 500 million Hong Kong dollars, an increase of 0.1%. As of the end of last year, the net asset value per share was 2.73 Hong Kong dollars, with a debt ratio of 38%. The final distribution equals 80% of the distributable income, but the group's distribution policy indicates a proposed distribution of not less than 90% of the distributable income. However, the group stated that a suggested dividend ratio of 80% would help balance investor returns with prudent financial management.