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Wharf’s interim 2016 results were resilient, with core profit up 14% to HKD 6.0 billion year on year, in line with our estimates. The company’s retail assets in Hong Kong held up reasonably well with revenue up 5% year on year. Mirroring the citywide trend, retail sales at Harbour City and Time Square continued to decline, but the pace moderated in the second quarter. Occupancy costs inched higher to 19.8% and 24% at Harbour City and Time Square, respectively. However, the company still saw posi...Wharf is an investment holding company. Co. operates in five segemnts: investment property, which includes property leasing operations consisting of retail, office and serviced apartments; development property, which encompasses activities relating to the acquisition, development, design, construction, sale and marketing of Co.'s trading properties; hotels, which includes hotel operations in the Asia Pacific region; logistics, which includes the container terminal operations in Hong Kong and Mainland China; and media and entertainment, which comprises pay television, internet and multimedia and other businesses and the telecommunication businesses.
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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