StockMarketWire.com - Hongkong Land Holdings reports a sound performance in 2015, although modestly lower than the record results achieved in the past two years.

The group said results from its commercial portfolio continued to be strong, despite the contribution from Singapore being lower in US dollar terms. Earnings from the residential sector declined, although an improvement was seen in mainland China and there was a gain recognised on a redeveloped property in Hong Kong.

Underlying profit attributable to shareholders was US$905 million, a 3% decrease from 2014. Taking into account the net non-trading gains of US$1,107 million recorded principally on property valuations of the group's investment properties, the profit attributable to shareholders for the year was US$2,012 million. This compares to US$1,327 million in 2014, which included net valuation gains of US$397 million. The net asset value per share at 31 December was US$12.19, compared with US$11.71 at the end of 2014. The directors are recommending a final dividend of US¢13.00 per share, providing a total dividend for the year of US¢19.00 per share, unchanged from the previous year.


At 9:18am:



Story provided by StockMarketWire.com