Soho China Full-Year Results a Miss, but 3Q Occupancy Rate Better than Expected
Soho China reported 2016 full-year results below our expectation. Turnover and gross profit are up 59% and 69% year on year, respectively. The increase was attributed to higher rental income as the rental portfolio continues to mature with higher occupancies. Excluding revaluation and disposal gains, attributable core profit was CNY 171 million, compared with a loss a year ago. This is 15% below our estimates. The company declared a special dividend of CNY 0.346 per share, combined with a specia...Soho China is engaged in property development and property investments. Co. operates within three segments: completed projects held for sale; completed investment properties; and projects under development.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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