Financial Highlights
Key Income Statement Items
For the year ended 31 December
(HK$'000)
| 2023 | 2022 | 2021 | 2020 | 2019 |
---|---|---|---|---|---|
Revenue
| 437,314 | 434,007 | 444,981 | 452,894 | 462,314 |
Net property income
| 336,382 | 337,905 | 352,086 | 358,038 | 365,866 |
Distributable income
| 214,662 | 244,985 | 267,619 | 272,922 | 274,651 |
Distribution per unit (HK$)
| 0.1409 | 0.1625 | 0.1763 | 0.1791 | 0.1828 |
Distribution Statement
For the year ended 31 December
(HK$'000)
| 2023 | 2022 | 2021 | 2020 | 2019 |
---|---|---|---|---|---|
(Loss)/ Profit for the year, before transactions with unitholders
| (5,673) | 74,891 | 57,020 | (874,501) | 333,105 |
Adjustments: | |||||
Manager's fee
| 47,984 | 48,629 | 49,504 | 52,123 | 54,127 |
Change in fair value of investment properties
| 120,951 | 186,504 | 186,518 | 982,856 | (128,112) |
Change in fair value of derivative financial instruments
| 40,059 | (92,745) | (44,463) | 94,320 | (5,017) |
Finance costs
| 8,985 | 8,040 | 7,979 | 8,013 | 7,991 |
Deferred tax
| 2,356 | 19,666 | 11,061 | 10,111 | 12,557 |
Distributable income
| 214,662 | 244,985 | 267,619 | 272,922 | 274,651 |
Key Statement of Financial Position Items
As at 31 December
(HK$'000)
| 2023 | 2022 | 2021 | 2020 | 2019 |
---|---|---|---|---|---|
Investment properties
| 9,703,000 | 9,801,000 | 9,967,000 | 10,147,000 | 11,126,000 |
Net assets attributable to unitholders
| 6,888,706 | 7,098,489 | 7,262,603 | 7,542,506 | 8,636,754 |
Net asset value per unit (HK$)
| 4.56 | 4.71 | 4.83 | 4.95 | 5.75 |
Gearing ratio (%)
| 24.2% | 23.4% | 23.0% | 22.3% | 20.3% |
Key Operation Data
For the year ended 31 December | 2023 | 2022 | 2021 | 2020 | 2019 |
---|---|---|---|---|---|
Average effective unit rent per sq.ft.
| 22.21 | 22.63 | 23.61 | 24.85 | 25.18 |
Occupany rate (%) (as at 31 December)
| 95.9% | 96.3% | 97.7% | 96.1% | 97.3% |
Rental reversion rate (%)
| (1.8%) | (4.6%) | (7.7%) | (4.4%) | 7.4% |
Cost-to-revenue ratio (%)
| 23.1% | 22.1% | 20.9% | 20.9% | 20.9% |