HONG KONG (dpa-AFX) - Wharf Real Estate Investment Co. Ltd. (WRFRF, 1997.HK) reported Tuesday a loss in fiscal 2025, compared to prior year's profit, amid weak revenues. Further, the company lifted dividend.
In Hong Kong, the shares were trading at HK$27.300, up 1.49 percent.
In fiscal 2025, Group loss attributable to equity shareholders was HK$4.26 billion, compared to profit of HK$891 million last year. Loss per share was HK$1.40, compared to prior year's earnings per share of HK$0.29.
The latest results were hit by a net Investment Properties or IP revaluation deficit of HK$10.53 billion, compared to HK$5.62 billion last year.
Underlying net profit was HK$6.46 billion, compared to HK$6.14 billion a year ago. Underlying earnings per share were HK$2.13, compared to HK$2.02 last year.
Operating profit grew 4 percent year-over-year to HK$9.35 billion.
Group revenue decreased 1 percent to HK$12.82 billion from HK$12.91 billion a year earlier.
IP revenue decreased 1 percent, while Hotel revenue increased 6 percent.
Further, the company declared a second interim dividend of HK$0.66 per share, to be paid on April 23 to shareholders on record on April 8.
Total distribution for the year of 2025 will amount to HK$1.32 per share, higher than last year's HK$1.24 per share.
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