Brief: Swire Properties Posts FY Reported Profit Attributable Hk$7,121 Mln

Swire Properties

10/03/2022 04:09

March 10 (Reuters) - Swire Properties Ltd  1972.HK :
    * FY REPORTED PROFIT ATTRIBUTABLE HK$7,121 MILLION VERSUS
HK$4,096
MILLION
    * FY REVENUE HK$15,891 MILLION VERSUS HK$13,308 MILLION
    * DECLARED A SECOND INTERIM DIVIDEND FOR 2021 OF HK$0.64 PER
SHARE
    * INVESTMENTS IN CHINESE MAINLAND HAVE YIELDED SOLID
RETURNS, WITH
FIVE MALLS IN FULL OPERATION DELIVERING STRONG RESULTS IN 2021
    * IN GUANGZHOU, CONTINUED NEW SUPPLY IS EXPECTED TO PUT
DOWNWARD
PRESSURE ON OFFICE RENTS
    * EXPECT TO CONTINUE SEEING STRONG DEMAND FOR RETAIL SPACE 
IN THE
CITIES IN WHICH WE OPERATE IN THE CHINESE MAINLAND
    * IN BEIJING, IMPROVED OFFICE TAKE-UP IS EXPECTED TO
CONTINUE WITH
RENTALS RECOVERING DUE TO LIMITED NEW SUPPLY IN CORE AREAS
    * IN SHANGHAI, DEMAND IS EXPECTED TO BE ROBUST
    * EXPLORING SEVERAL OPPORTUNITIES IN GREATER BAY AREA,
INCLUDING A
POTENTIAL RETAIL DEVELOPMENT IN THE JULONG BAY AREA OF GUANGZHOU
    * IN MIAMI, RETAIL SALES CONTINUE TO RECOVER  STRONGLY FROM
THE
ADVERSE EFFECTS OF COVID-19
    * EXPECT DEMAND TO REMAIN RESILIENT IN MEDIUM TO LONG TERM
    * OUTLOOK FOR HOTELS IN HONG KONG REMAINS CHALLENGING
BECAUSE OF
COVID-19 AND ASSOCIATED TRAVEL RESTRICTIONS

Source text for Eikon:  ID:nHKS7dlH6D 
Further company coverage:  1972.HK 

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