Interim Results Are In Line; New Shanghai Mall to Drive Earnings in 2018
For interim 2017, Swire Properties reported core earnings of HKD 4.6 billion, up 30% year on year, in line with our estimate. The jump in earnings was attributed to higher contributions from the property trading segment due to the handover of a residential project in Hong Kong. Underlying earnings per share amounted to HKD 0.79, up 30% over the year-ago period. The company declared an interim dividend of HKD 0.25 per share, up 9% year on year. Overall, rental income was up 3.5% year on year with...
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