Brief: Swire Properties says HY net profit was HK$ 14,763 million

Swire Properties

17/08/2017 05:01

Aug 17 (Reuters) - Swire Properties Ltd  1972.HK : 
    * HY net profit HK$ 14,763 million versus HK$5,334 million 
    * HY revenue HK$ 11,525mln versus HK$7,886 million 
    * In the central district of Hong Kong, high occupancy and 
limited supply will continue to exert upward pressure on office 
rents 
    * Declared first interim dividend of HK$0.25 per share for 
the year ending 31st December 2017. 
    * Office rents in Guangzhou and Shanghai are expected to be 
stable in the second half of 2017 
    * Office rents in Beijing are expected to be weak in the 
second half of 2017 
    * In mainland China, retail sales are expected to grow 
satisfactorily in second half of 2017 in cities where group has 
shopping malls 
    * "retail rental income in the second half of 2017 is 
expected to be affected by the continued adjustments to the 
tenant mix" 
    * In U.S.A., retail sales of apparel continue to be weak and 
have made fashion retailers cautious about expansion 
    * In Hong Kong, rental demand for residential investment 
properties is expected to be stable in the second half of 2017 
    * "In Miami, strength of US dollar against other major 
currencies has adversely affected demand, in particular from 
South America. 
    * Trading conditions for existing hotels are expected to be 
stable in the second half of 2017 
    * Hotels in Shanghai are expected to open by the end of 2017 
    * "In H22017, property trading profits are expected to be 
recognised on further sales of units at Whitesands Development 
in Hong Kong & Miami" 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nHKS1zjjZT 
Further company coverage:  1972.HK  
 
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