Henderson Land Development ( (HLDCY) ) has released its Q4 earnings. Here is a breakdown of the information Henderson Land Development presented to its investors.
Henderson Land Development is a prominent real estate company based in Hong Kong, primarily engaged in property development and investment, with a significant presence in both Hong Kong and mainland China. The company is known for its extensive land bank and diverse portfolio of residential, commercial, and mixed-use projects.
In its latest earnings report for the year ending December 2024, Henderson Land Development reported an underlying profit attributable to shareholders of HK$9,774 million, marking a modest increase of 1% from the previous year. Despite this, the reported profit saw a significant decrease of 32% due to fair value losses on investment properties. The company maintained its total dividend at HK$1.80 per share, consistent with the previous year.
Key financial highlights include a 16% decrease in attributable revenue from property development in Hong Kong, amounting to HK$12,323 million. The company launched several residential projects, achieving satisfactory sales results, with contracted sales in Hong Kong reaching approximately HK$11,285 million. In mainland China, the company faced a challenging market, with a 48% decrease in contracted sales. However, the leasing rates of its investment properties in major cities like Shanghai and Guangzhou remained robust, contributing to stable rental income.
Looking ahead, Henderson Land Development plans to continue expanding its development land bank and focus on urban redevelopment projects. The company aims to leverage its strategic land holdings and ongoing projects to drive future growth. Management remains cautiously optimistic about the property market, supported by favorable government policies and economic conditions.
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