Investor Relations
Investor Relations

Financial Highlights

  • Key Income Statement Items

    For the year ended 31 December 2019 2018 2017 2016 2015 2014
    (HK$'000)
    Revenue 462,314 446,814 446,242 452,926 438,723 403,413
    Net property income 365,866 350,811 353,600 357,847 345,479 312,056
    Distributable income 274,651 268,899 261,533 258,362 254,083 231,364
    Distribution per unit (HK$) 0.1828 0.1810 0.1780 0.1777 0.1768 0.1630
  • Distribution Statement

    For the year ended 31 December 2019 2018 2017 2016 2015 2014
    (HK$'000)
    Profit for the year, before transactions with unitholders 333,105 687,580 748,425 565,244 692,591 466,493
    Adjustments:
    Manager's fee 54,127 52,441 50,815 52,280 50,070 46,973
    Acquisition fee - - - 10,100
    Gain on disposed property company (299,695)
    Change in fair value of investment properties (128,112) (487,882) (295,697) (345,334) (515,702) (332,101)
    Change in fair value of derivative financial instruments (5,017) (1,941) 18,050 (45,242) 295 6,567
    Finance costs 7,991 7,991 26,411 16,997 12,700 21,222
    Deferred tax 12,557 10,710 13,224 14,417 14,129 12,110
    Distributable income 274,651 268,899 261,533 258,362 254,083 231,364
  • Key Statement of Financial Position Items

    As at 31 December 2019 2018 2017 2016 2015 2014
    (HK$'000)
    Investment properties 11,126,000 10,990,000 10,490,000 (1)10,777,000 10,419,000 9,890,000
    Net assets attributable to unitholders 8,636,754 8,524,411 8,053,743 7,515,721 7,155,735 6,668,686
    Net asset value per unit (HK$) 5.75 5.74 5.48 5.17 4.98 4.70
    Gearing ratio (%) 20.3% 20.6% 21.50% 26.4% 27.20% 28.60%
  • Key Operation Data

    For the year ended 31 December 2019 2018 2017 2016 2015 2014
    Average effective unit rent (HK$ per sq. ft.) 25.18 24.68 24.31 23.76 22.72 20.81
    Occupany rate (%) (as at 31 December) 97.3% 97.6% 97.7% 96.1% 96.4% 97.7%
    Rental reversion rate (%) 7.4% 7.2% 7.6% 10.9% 16.3% 32.1%
    Cost-to-revenue ratio (%) 20.9% 21.5% 20.8% 21.0% 21.3% 22.6%

     

    (1)The amount includes Harbourfront Landmark property of HK$594,000,000 transferred to assets of a disposal group classified as held for sale.

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