HK's Wharf REIC sinks to over 8-month low on weak H1, dividend cut

Wharf Real Estate Investment

05/08/2021 09:07

** Shares of Wharf Real Estate Investment Co Ltd  1997.HK 
fall as much as 8.8% to HK$36.70, their lowest Dec. 2, extending
losses for the sixth straight session
    ** Stock biggest decliner in the Hang Seng sub-index
tracking property firms  .HSNP  and the second biggest decliner
in the benchmark Hang Seng Index  .HSI 
    ** The property investor and shopping malls operator says
its unaudited underlying net profit for H1 2021 decreased 15% to
HK$3.27 bln ($420.50 mln), as rental incomes from retail
property remained depressed  urn:newsml:reuters.com:*:nFWN2PB1JR
    ** Says economic uncertainty and new work culture dampen
office demand during H1, while hotels bleed with strict border
control still in force
    ** Co declares an interim dividend of HK$0.67 per share,
from HK$0.78 a year ago  
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  falls 1.7%, and the benchmark index  .HSI  slips 0.8%


($1 = 7.7765 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))