Financial Highlights
Key Income Statement Items
|
For the year ended 31 December
(HK$'000)
| 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
Revenue
| 425,368 | 437,314 | 434,007 | 444,981 | 452,894 |
Net property income
| 323,307 | 336,382 | 337,905 | 352,086 | 358,038 |
Distributable income
| 185,415 | 214,662 | 244,985 | 267,619 | 272,922 |
Distribution per unit (HK$)
| 0.1198 | 0.1409 | 0.1625 | 0.1763 | 0.1791 |
Distribution Statement
|
For the year ended 31 December
(HK$'000)
| 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
(Loss)/ Profit for the year, before transactions with unitholders
| (74,636) | (5,673) | 74,891 | 57,020 | (874,501) |
| Adjustments: | |||||
Manager's fee
| 47,151 | 47,984 | 48,629 | 49,504 | 52,123 |
Change in fair value of investment properties
| 177,858 | 120,951 | 186,504 | 186,518 | 982,856 |
Change in fair value of derivative financial instruments
| 12,512 | 40,059 | (92,745) | (44,463) | 94,320 |
Finance costs
| 9,097 | 8,985 | 8,040 | 7,979 | 8,013 |
Deferred tax
| 13,433 | 2,356 | 19,666 | 11,061 | 10,111 |
Distributable income
| 185,415 | 214,662 | 244,985 | 267,619 | 272,922 |
Key Statement of Financial Position Items
|
As at 31 December
(HK$'000)
| 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
Investment properties
| 9,547,000 | 9,703,000 | 9,801,000 | 9,967,000 | 10,147,000 |
Net assets attributable to unitholders
| 6,676,152 | 6,888,706 | 7,098,489 | 7,262,603 | 7,542,506 |
Net asset value per unit (HK$)
| 4.31 | 4.56 | 4.71 | 4.83 | 4.95 |
Gearing ratio (%)
| 25.1% | 24.2% | 23.4% | 23.0% | 22.3% |
Key Operation Data
| For the year ended 31 December | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
Average effective unit rent per sq.ft.
| 21.76 | 22.21 | 22.63 | 23.61 | 24.85 |
Occupany rate (%) (as at 31 December)
| 94.2% | 95.9% | 96.3% | 97.7% | 96.1% |
Rental reversion rate (%)
| (6.4%) | (1.8%) | (4.6%) | (7.7%) | (4.4%) |
Cost-to-revenue ratio (%)
| 24.0% | 23.1% | 22.1% | 20.9% | 20.9% |