Financial Highlights

Annual Results

(in HK$’ million, unless otherwise specified) 2020 2019 2018 2017 2016
For the year ended 30 June :          
Revenue 854.6 850.7 817.4 788.1 769.7
Property operating expenses 169.9 168.2 171.3 164.7 161.2
Net property income 684.7 682.5 646.1 623.4 608.5
Cost-to-income ratio (%) 19.9 19.8 21.0 20.9 20.9
(Loss)/profit after taxation (751.4) 1,591.1 1,442.3 743.5 825.3
Annual distributable income 467.0 467.3 450.5 434.5 415.0
DPU (HK cents)Note 26.8 27.3 26.5 33.0 24.3
Payout ratio (%)Note
95.2 96.4 96.7 124.3 95.8
At 30 June :          
Portfolio valuation 18,918.0 20,002.5 18,754.8 17,062.4 16,651.0
Total assets 19,674.1 20,805.8 19,631.3 18,297.8 17,925.0
Total liabilities 4,902.9 4,813.9 4,774.3 4,398.3 4,406.9
Net asset value 14,771.2 15,991.9 14,857.0 13,899.5 13,518.1
Net asset value per unit (HK$) 8.89 9.68 9.03 8.49 8.26
Gearing ratio (%) 21.6 20.4 21.8 21.5 21.9
   
Note :   A special distribution of HK 7.5 cents was included in 2017. Excluding the special distribution, the payout ratio in 2017 would have been 96.1%.

 


Interim Results

(in HK$’ million, unless otherwise specified)    
  Six months ended 31 December 2020 Six months ended 31 December 2019
Revenue 399.5 437.1
Property operating expenses 80.0 91.4
Net property income 319.5 345.7
Cost-to-income ratio (%) 20.0 20.9
(Loss)/profit after taxation (194.1) 30.7
Distributable income 220.0 233.5
DPU (HK cents) 12.5 13.2
Payout ratio (%) 94.7 93.6
  At 31 December 2020 At 30 June 2020
Portfolio valuation 18,548.6 18,918.0
Gross assets 19,293.7 19,674.1
Gross liabilities 4,944.0 4,902.9
Net asset value 14,349.7 14,771.2
Net asset value per unit (HK$) 8.61 8.89
Gearing ratio (%) 22.4 21.6