Swire Properties Swings to Profit, Declares 37 Cent Interim Dividend
On.cc · 2 SOURCESabout 23 hours ago2 MIN
Summary
Swire Properties (1972) swung to a first-half attributable profit of HK$3.631 billion, reversing from a loss in the same period last year . The property developer declared an interim dividend of HK$0.37 per share, representing an increase of nearly 6% compared to the previous year . The turnaround was primarily driven by residential sales profits, notably from the completion of the sale of 6 Deep Water Bay Road in Hong Kong .
Key Points
- Swire Properties' first-half attributable basic profit rose 10.86% year-on-year to HK$4.9 billion, mainly supported by residential trading profits .
- Swire Pacific's (0019) first-half attributable profit jumped over sevenfold to HK$6.76 billion, with recurring underlying profit up 47.75% .
- Swire Pacific declared an 'A' share interim dividend of HK$1.50 and 'B' share of HK$0.30, up 15% year-on-year .
- Swire Properties' Hong Kong retail portfolio maintained 100% occupancy across all shopping malls with strong sales performance .
- The group's HK$100 billion investment plan is progressing well, with approximately 70% of funds already committed to support long-term growth .
Why It Matters
The results signal a meaningful recovery in Hong Kong's commercial and residential property markets, supported by improving business sentiment and tenant demand for quality office space . Swire Properties' asset recycling strategy, which has generated approximately HK$60 billion from disposals, demonstrates a sustainable funding model for its ambitious expansion plans across Hong Kong and mainland China .
The results signal a meaningful recovery in Hong Kong's commercial and residential property markets, supported by improving business sentiment and tenant demand for quality office space . Swire Properties' asset recycling strategy, which has generated approximately HK$60 billion from disposals, demonstrates a sustainable funding model for its ambitious expansion plans across Hong Kong and mainland China .