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Hang Lung Properties Profit Up 22% in 2016

Hang Lung Properties reported 2006 full year net profit rose 22% to HKD6.2billion from HKD5.09billion in 2015. Revenue hiked 46% to HKD13.59 billion from HKD8.95 billion a year earlier. The company board proposed final dividend of HKD 58 cents per share to shareholders.

Hang Lung chairman Ronnie Chan expected that market volatility will increase over time and sees both China and Hong Kong will continue to face challenges posed by slow economic growth, weak retail consumption sentiment.

Chan said the company will focus on driving rental growth in Hong Kong and expand occupancy in cities outside Shanghai in 2017.

As at December 31, 2016, the group net debt to equity ratio were at 4.8% and debt to equity ratio at 22.5%.

- APMR News

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