Henderson Land Development's Interim Results a Slight Beat on Asset Disposals
For interim 2018, Henderson Land Development, or HLD, reported underlying profit of HKD 13.9 billion, up 52% year on year. Underlying EPS amounted to HKD 3.15, versus HKD 2.07 a year ago on a restated basis and adjusted for bonus issue. However, the underlying profit included disposal gains of several investment properties. Stripping out those, underlying profit amounted to HKD 8.2 billion, up 54% on a like-for-like basis. This is about 53% of our full-year estimate. HLD declared an interim divi...Henderson Land Development is an investment holding company, engaged in property development and investment in Hong Kong and mainland China, hotel operation, project and property management, construction and provision of finance. Co.'s segments include Property development, property leasing, construction, infrastructure, hotel operation, department store operation, utility and energy, and others. Co.'s others segment is involved in the provision of finance, investment holding, project management, property management, agency services, cleaning and security guard services, as well as the trading of building materials and disposal of leasehold land.
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