HONG KONG (dpa-AFX) - Wharf (Holdings) Ltd. (WARFF, WARFY, 0004.HK), a Hong Kong -based real estate firm, reported Thursday a profit in its fiscal 2025, compared to prior year's loss, despite weak sales. Further, the firm maintained its annual dividend.
In Hong Kong, the shares were losing around 3.2 percent, trading at HK$22.600.
In the full year, the company's profit attributable to equity shareholders was HK$50 million, compared to loss of HK$3.22 billion last year. Earnings per share were HK$0.02, compared to loss per share of HK$1.05 a year ago.
The latest results reflected investment properties or IP net revaluation deficit of HK$3.64 billion, compared to last year's HK$5.99 billion, among other non-cash items.
Group underlying net profit increased 47 percent to HK$4.10 billion from HK$2.80 billion last year, mainly reflecting lower DP impairment provisions and decrease in borrowing costs. Underlying earnings per share were HK$1.34, compared to HK$0.92 a year ago.
Group revenue decreased 9 percent to HK$11.00 billion from HK$12.12 billion last year.
Further, the company announced that a second interim dividend of HK$0.20 per share will be paid on April 23 to Shareholders on record on April 8. Total distribution for the year 2025 will amount to HK$0.40 per share, same as last year.
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