Sun Hung Kai Interim Results Exceeding Expectation on Better Margin of HK Development Properties
Sun Hung Kai Properties announced its interim result for fiscal year 2017/2018. Underlying profit was HKD 20 billion, up 37% year on year. Underlying EPS was HKD 6.90, compared with HKD 5.05 for the same period last year. Underlying earnings were about 70% of our initial full-year projection. The company declared an interim dividend of HKD 1.20 per share, up 9% year on year. The results are better than we expected, due to higher margin on booked Hong Kong development properties. We adjusted our ...
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