China Resources(Holdings)Co.,Ltd.

China Resources Land books HK$16.2b underlying income

Time:2017-03-31Source:The Standard

China Resources Land (1109) reported today, net profit including the revaluation gain from investment properties, grew by 10.2 percent to HK$19.5 billion in 2016.

Core profit excluding revaluation gain from investment properties, grew by 13.9 percent to HK$16.2 billion.

Revenue increased by 5.2 percent to HK$109.33 billion for the year ended December 31, 2016, the company reported today.

Property development revenue increased by 5 percent to HK$98.7 billion, while rental income of investment property (including hotel operations) was up by 8.5 percent to HK$7.2 billion.

Earnings per share were up by 7.5 percent to 281.4 HK cents, compared with 261.7 HK cents in 2015. Core earnings per share increased by 11.1 percent to 234.8 HK cents.

The company recommended a final dividend of 61.2 HK cents per share. Together with the interim dividend of 9.2 HK cents per share, the total dividend for 2016 was up by 22.6 percent to 70.4 HK cents per share, with a payout ratio of 30 of core net profit, the company said.

The StandardMar 22, 2017