China Motor Bus Reports Solid Profits and Dividends

China Motor Bus Co. Ltd. (HK:0026) has released an update.

China Motor Bus Co. Ltd. has reported an operating profit of HK$95 million for the fiscal year ending 30 June 2024, indicating an increase from the previous year’s profit, driven by higher rental and interest income. Despite non-cash net valuation losses on investment properties leading to a consolidated loss after tax of HK$262 million, the company maintains a healthy financial position and proposes a total dividend of HK$3.20 per share, consistent with the prior year. The company also reported progress on major property developments, including the Chai Wan residential and commercial complex, with a first occupation permit expected in 2025, and their South Island Place project, which has successfully leased 88% of its office space.

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