Investor Relations
Investor Relations

Financial Highlights

  • Key Income Statement Items

    For the year ended 31 December 2017 2016 2015 2014 2013 2012
    (HK$'000)
    Revenue 446,242 452,926 438,723 403,413 341,883 308,366
    Net property income 353,600 357,847 345,479 312,056 266,931 239,471
    Distributable income 261,533 258,362 254,083 231,364 209,056 186,868
    Distribution per unit (HK$) 0.1780 0.1777 0.1768 0.1630 0.1495 0.1354
  • Distribution Statement

    For the year ended 31 December 2017 2016 2015 2014 2013 2012
    (HK$'000)
    Profit for the year, before transactions with unitholders 748,425 565,244 692,591 466,493 695,729 1,074,715
    Adjustments:
    Manager's fee 50,815 52,280 50,070 46,973 41,283 36,774
    Acquisition fee - - - 10,100 - -
    Gain on disposed property company (299,695)
    Change in fair value of investment properties (295,697) (345,334) (515,702) (332,101) (550,591) (947,720)
    Change in fair value of derivative financial instruments 18,050 (45,242) 295 6,567 - -
    Finance costs 26,411 16,997 12,700 21,222 10,126 10,153
    Deferred tax 13,224 14,417 14,129 12,110 12,509 12,946
    Distributable income 261,533 258,362 254,083 231,364 209,056 186,868
  • Key Statement of Financial Position Items

    As at 31 December 2017 2016 2015 2014 2013 2012
    (HK$'000)
    Investment properties 10,490,000 (1)10,777,000 10,419,000 9,890,000 8,518,000 7,952,000
    Net assets attributable to unitholders 8,053,743 7,515,721 7,155,735 6,668,686 6,361,402 5,819,182
    Net asset value per unit (HK$) 5.48 5.17 4.98 4.70 4.57 4.24
    Gearing ratio (%) 21.50% 26.4% 27.20% 28.60% 20.90% 22.40%
  • Key Operation Data

    For the year ended 31 December 2017 2016 2015 2014 2013 2012
    Average effective unit rent (HK$ per sq. ft.) 24.31 23.76 22.72 20.81 19.03 16.94
    Occupany rate (%) (as at 31 December) 97.7% 96.1% 96.4% 97.7% 98.9% 98.5%
    Rental reversion rate (%) 7.6% 10.9% 16.3% 32.1% 34.9% 36.1%
    Cost-to-revenue ratio (%) 20.8% 21.0% 21.3% 22.6% 21.9% 22.3%

     

    (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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