Swire Pacific ( (HK:0019) ) has shared an update.
Swire Properties Limited anticipates a decrease in its financial performance for the year ending December 31, 2024, compared to 2023. The company expects its recurring underlying profit to drop to approximately HK$6.5 billion, primarily due to higher net finance charges and reduced rental income from Hong Kong offices. Additionally, the underlying profit is projected to fall to around HK$6.8 billion owing to the absence of a previous one-off profit from property disposal and decreased sales of car parking spaces. Despite these challenges, Swire’s Hong Kong office portfolio exceeded occupancy rates compared to the broader market.
More about Swire Pacific
Swire Pacific Limited, incorporated in Hong Kong, operates primarily in the real estate sector through its subsidiary Swire Properties Limited. The company focuses on property development and investment, with significant operations in Hong Kong, where it manages a portfolio of office spaces.
YTD Price Performance: -5.49%
Average Trading Volume: 1,000
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $10.76B
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