Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi: HANG LUNG PPT (00101.HK)'s Interim DPS Stable; Underlying Profit in Line
Recommend 12 Positive 11 Negative 5 |
||||
|
||||
|
HANG LUNG PPT (00101.HK)'s 1H25 underlying profit declined by 8.5% YoY to $1.587 billion, in line with expectation, accounting for 53% of Citi Research's estimation for the current fiscal year (56% for 1H24), according to a research report issued by Citi Research. The drop in profit was primarily due to a decrease in rental profits, expanded losses from property development & hotel businesses and an 11% YoY increase in net finance costs due to an expanded debt scale, despite lower average financing costs. Interim DPS was $0.12, with the Company continuing to offer a scrip dividend option. Implied interim dividend payout ratio was 36% (32% 1H24). Citi Research expressed interest in HANG LUNG PPT disclosing more information on dividend prospects, with market focus likely on retail sales/rental expectations in mainland China, pre-leasing progress of the Hangzhou Westlake 66 project, capital expenditure plans and fund management. Therefore, the broker kept rating at Buy for HANG LUNG PPT, with a target price of $7.05. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
