Hong Kong – 24 September 2026 – CTF Services reported resilient full-year results for the 12 months ended 30 June 2026, posting an 11.0% rise in profit attributable to shareholders to HK$2.39 billion. Attributable Operating Profit (AOP) advanced 3.0% to HK$4.59 billion, while adjusted EBITDA edged up 1.1% to HK$7.39 billion, underscoring the diversified group’s ability to navigate a subdued macro-environment.
The Financial Services segment, driven by Chow Tai Fook Life Insurance, delivered 19.0% AOP growth to HK$1.47 billion and overtook Roads to become the largest contributor. Contractual Service Margin release climbed 21.0% to HK$1.37 billion and value of new business rose 30.0% to HK$1.31 billion, with CTF Life’s solvency ratio strengthening to 285 %.
Roads generated stable AOP of HK$1.44 billion as traffic normalised, while Logistics AOP fell 13.0% to HK$645.00 million, reflecting deferred-tax provisions and earlier‐period softness at ATL Logistics Centre. Construction posted HK$688.90 million in AOP (-4.0%), supported by a HK$62.70 billion order book, and Facilities Management delivered HK$87.80 million (-1.0%) as Gleneagles Hospital offset weaker Hong Kong Convention and Exhibition Centre (HKCEC) earnings. Strategic Investments added HK$251.40 million (+6.0%).
Financial discipline remained a key theme: net debt contracted 20.0% year-on-year to HK$11.70 billion, driving net gearing down to 28 % from 37 %. Total available liquidity stood at HK$31.30 billion, comprising HK$20.80 billion in cash and HK$10.50 billion in undrawn facilities. Average borrowing cost stayed at 4.1 %, and external rating agencies reaffirmed the group’s “AAA” (China Lianhe) and “A+/Positive” (JCR) long-term ratings.
Shareholder returns were lifted in line with cash-flow strength. The Board proposed a final dividend of HK$0.33 per share, taking full-year ordinary payouts to HK$0.61 per share, up 6.0% in aggregate value to HK$2.80 billion. A 1-for-10 bonus share issue has also been announced to reward investors and enhance liquidity.
CTF Services continued its portfolio rotation, exiting the Hunan Changliu Expressway for RMB1.61 billion and issuing HK$2.22 billion of 0.75 % exchangeable bonds to monetise its Shoucheng stake. Expansion initiatives included the acquisition of five logistics properties across the Greater Bay Area and Yangtze River Delta, strategic stakes in tech-driven broker uSMART and external asset manager Blackhorn, and entry into artificial-intelligence data-centre projects in Hebei and Malaysia. The group also advanced into European battery-energy-storage projects via a partnership with Unisun Energy.
Looking ahead, management highlights Financial Services, modern logistics and digital infrastructure as core growth pillars, supported by strong capital, disciplined leverage and a commitment to sustainable, progressive dividends.
Comments