Real estate division Swire Properties is making good progress with its US$12.7 billion investment plan, chairman Guy Bradley says
Corrects loss in headline to profit drop
The group’s underlying profit fell 2 per cent to HK$5.5 billion (US$700.6 million) in the six months to June, compared with HK$5.6 billion a year earlier, according to a filing to the Hong Kong stock exchange on Thursday.
However, first-half consolidated profit dropped 79 per cent year on year to HK$815 million due to a higher fair value loss on investment properties of HK$4.66 billion compared with HK$877 million a year earlier.
“As we look ahead to the rest of the year, there’s likely to be continued uncertainty across our core markets,” chairman Guy Bradley said in the statement. “[But] we remain committed as ever, and will continue investing in Hong Kong and the Greater Bay Area, where we see exciting opportunities for the future.”
