Henderson Land's profits up 64% to $14.2b in the first half of 2017

Pre-tax profit contribution from property sales hit $3.2b.

According to a release by Henderson Land, for the six months ended 30 June 2017, the (unaudited) Group’s reported profit attributable to equity shareholders amounted to HK$14,158 million, representing an increase of HK$5,547 million or 64% over HK$8,611 million for the same period last year. Reported earnings per share were HK$3.54 (2016: HK$2.15 as adjusted for the bonus issue in 2017).

Excluding the fair value change (net of non-controlling interests and tax) of investment properties and investment properties under development, the Group’s Underlying Profit attributable to equity shareholders for the period under review was HK$10,731 million, representing an increase of HK$5,949 million or 124% over HK$4,782 million for the same period last year.

Underlying Earnings Per Share were HK$2.68 (2016: HK$1.20 as adjusted for the bonus issue in 2017). The Board has resolved to pay an interim dividend of HK$0.48 per share (2016: HK$0.42 per share) to shareholders whose names appear on the Register of Members of the Company on Thursday, 7 September 2017 and such interim dividend will not be subject to any withholding tax in Hong Kong. 

The Group’s underlying profit attributable to equity shareholders for the six months ended 30 June 2017 was up by 124% to HK$10,731 million. Pre-tax profit contribution from property sales (including the attributable contribution from subsidiaries, associates and joint ventures) increased by 166% period-on-period to HK$3,167 million, whilst pre-tax net rental income (including the attributable contribution from subsidiaries, associates and joint ventures) increased by 1% period-on- eriod to HK$3,303 million. Besides, there was a total attributable pre-tax net gain of HK$3,944 million arising from the disposal of various investment properties and a development site.