Financial Highlights

Annual Results

(in HK$’ million, unless otherwise specified) 2023 2022 2021 2020 2019
For the year ended 30 June :          
Revenue 783.3 802.9 799.3 854.6 850.7
Property operating expenses 159.3 161.0 159.6 169.9 168.2
Net property income 624.0 641.9 639.7 684.7 682.5
Cost-to-income ratio (%) 20.3 20.1 20.0 19.9 19.8
(Loss)/profit after taxation (28.4) 102.9 (233.7) (751.4) 1,591.1
Annual distributable income 380.3 431.1 438.3 467.0 467.3
DPU (HK cents) 22.0 25.0 25.6 26.8 27.3
Payout ratio (%)
97.9 97.4 97.5 95.2 96.4
At 30 June :          
Portfolio valuation 18,512.2 18,095.2 18,341.7 18,918.0 20,002.5
Total assets 19,217.9 18,960.4 19,199.7 19,674.1 20,805.8
Total liabilities 5,548.7 4,909.0 5,075.4 4,902.9 4,813.9
Net asset value 13,669.2 14,051.4 14,124.3 14,771.2 15,991.9
Net asset value per unit (HK$) 8.06 8.36 8.45 8.89 9.68
Gearing ratio (%) 26.1 23.3 23.0 21.6 20.4

 

Interim Results

(in HK$’ million, unless otherwise specified)    
  Six months ended 31 December 2023 Six months ended 31 December 2022
Revenue 419.2 388.5
Property operating expenses 96.1 80.9
Net property income 323.2 307.6
Cost-to-income ratio (%) 22.9 20.8
(Loss)/profit after taxation 79.7 (274.4)
Distributable income 162.3 198.2
DPU (HK cents) 9.0 11.0
Payout ratio (%) 94.4 93.7
  At 31 December 2023 At 30 June 2023
Portfolio valuation 18,480.6 18,512.2
Gross assets 19,083.4 19,217.9
Gross liabilities 5,538.8 5,548.7
Net asset value 13,544.6 13,669.2
Net asset value per unit (HK$) 7.95 8.06
Gearing ratio (%) 26.3 26.1
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