Hang Lung Properties Logs Lower Profit in H1; Shares Down 14%

MT Newswires Live07-30

Hang Lung Properties (HKG:0101) recorded a profit attributable to shareholders of HK$1.06 billion for the six months ended June 30, lower as compared to the HK$2.39 billion logged in the corresponding period a year ago, a Tuesday filing with the Hong Kong Exchange said.

The company saw earnings per share of HK$0.23 for the period, as compared to the HK$0.53 per share recorded in the year-ago period.

The company's half-year revenue grew year on year to HK$6.11 billion from HK$5.24 billion.

The company declared an interim dividend of HK$0.12 per share for 2024 to shareholders on record on Aug. 16, lower than the interim dividend of HK$0.18 per share declared a year ago.

The company's shares plummeted over 14% in Tuesday afternoon trade.

Price (HKD): $5.54, Change: $-0.85, Percent Change: -13.30%

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