Solid Interim Results for CKP on Strong Rental Income and New Business Initiatives
Cheung Kong Property, or CKP, reported solid interim 2017 results, underpinned by better-than-expected rental property income and margin, higher contributions from newly acquired businesses, including aircraft leasing and energy infrastructure. Core net income is up 14% year on year, ahead of our projection of 8%. Core EPS is 17% higher year on year, owing to share buybacks year to date. Interim dividend was HKD 0.42 per share, slightly below our estimate of HKD 0.44 per share due to a lower pa...
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