Unaudited
For the six months ended
31 December
  2021
HK$m
2020
HK$m
Further information
Revenues 35,572.8 35,577.3

Segment performance - Revenues

  1HFY2022
HK$m
1HFY2021
HK$m
Property development 9,346.6 12,794.6
Property investment 2,518.0 2,314.6
Roads 1,481.9 1,646.1
Aviation - -
Construction 12,342.8 10,844.9
Insurance 6,820.6 4,583.7
Hotel operations 494.9 429.9
Others 2,568.0 2,963.5
Total 35,572.8 35,577.3

Revenues

HK$m
  • 48,000

  • 40,000

  • 32,000

  • 24,000

  • 16,000

  • 8,000

  • 0

    1HFY2022

    1HFY2021

  • Others

  • Hotel operations

  • Insurance

  • Construction

  • Aviation

  • Roads

  • Property investment

  • Property development

 
Segment results(1) 9,280.3 6,885.4
Underlying profit 3,898.2 3,718.6
Dividend per share (HK$) 0.56 0.56
Unaudited
As at 31 December 2021
HK$m
Audited
As at 30 June 2021
HK$m
Total assets 639,684.8 627,077.4
Cash and bank balances
(including restricted bank balances)
52,364.4 61,955.1
Undrawn facilities from banks 50,793.6 58,599.4
Consolidated net debt(2) 124,287.8 108,194.9
Net gearing ratio (%)(3) 41.3 35.6
RESULTS HIGHLIGHTS:
The Group recorded consolidated revenues of HK$35,572.8 million, basically the same as 1HFY2021. Underlying profit was HK$3,898.2 million and profit attributable to shareholders of the Company was HK$1,430.4 million, up by 4.8% and 41.2% respectively
The Group’s attributable contracted sales in Hong Kong amounted to about HK$3.88 billion
The Group’s overall contracted sales in Mainland China amounted to about RMB9.34 billion
Tremendous 86.6% growth in segment results of Mainland China property development, with improvement in segment margin from 30% in 1HFY2021 to 66% in 1HFY2022
Robust 25.8 % YOY growth in segment results of property investment following an increasing recurring rental income from K11 MUSEA and the Grade A office building K11 ATELIER King’s Road in Quarry Bay, and an improvement in operational efficiency
Continuous stringent cost control efforts as evidenced by an approximately 5.0% YOY decrease in recurring administrative and other operating expenses
Non-core asset disposal amounted to approximately HK$3.81 billion in 1HFY2022
Total capital resources amounted to approximately HK$103.2 billion, including cash and bank balances of approximately HK$52.4 billion and undrawn facilities from banks of approximately HK$50.8 billion
Overall financing cost decreased from 2.93% in 1HFY2021 to 2.52% in 1HFY2022
All refinancing of borrowings due in FY2022 has been taken care of
FY2022 interim dividend: HK$0.56 per share, the same as FY2021 interim, maintains the prevailing sustainable and progressive dividend policy
Remarks:
(1)Include share of results of joint ventures and associated companies, but exclude changes in fair value of investment properties
(2)The aggregate of bank loans, other loans, fixed rate bonds and other borrowings less cash and bank balances
(3)Consolidated net debt divided by total equity