SHKP Full-Year Results in Line; Managing Risk and Waiting for Opportunities in Hong Kong
Sun Hung Kai Properties announced in-line full-year results for fiscal 2018. Underlying profit was HKD 30.4 billion, with underlying EPS of HKD 10.49, both up 17% year on year. The results are in line with our estimate of HKD 30.2 billion. The company declared a final dividend of HKD 3.45 per share, bringing the full-year dividend to HKD 4.65 per share, up 13% year on year. The dividend payout ratio is slightly lower from a year ago at 44%, similar to the historical average. Gearing rose a bit t...Sun Hung Kai Properties is an investment holding company, engaged in the development of and investment in properties for sale and rent, hotel operation, telecommunications, transportation, infrastructure and logistics. Co.'s segments include Property development for sale, Property investment for rental, Hotel operation, Telecommunications, Transport infrastructure and logistics, and other businesses. Co.s' property development for sale focuses on land acquisition, project planning, material sourcing, construction and project management. Co.'s property investment for rent focuses on built, leased and managed a range of commercial projects in both core and decentralized areas.
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