Wharf Real Estate Investment Company Limited (01997.HK) annual basic net profit increased by 5% to HKD 6.456 billion, with a proposed dividend of HKD 0.66 per share.

Wharf Holdings Limited (01997.HK) announced its annual results as of December 31, 2024. Net profit attributable to shareholders increased by 5% to HKD 6.456 billion, mainly due to reduced financial expenses. Profit from investment properties rose by 7% to HKD 6.238 billion. Including the net revaluation deficit of investment properties compared to last year, the attributable loss was HKD 4.257 billion (2024: profit of HKD 891 million). The second interim dividend increased by 10% to HKD 0.66 per share (full year HKD 1.32).

For 2025, the Group’s revenue decreased by 1% to HKD 12.815 billion, and operating profit declined by 4% to HKD 9.349 billion. Revenue from investment properties decreased by 1% to HKD 10.653 billion, with operating profit down 2% to HKD 8.904 billion. Hotel revenue increased by 6% to HKD 1.631 billion, with operating profit up 54% to HKD 152 million. Within the investment property and hotel segments, Harbour City (including hotels) saw total revenue increase by 1% to HKD 9.224 billion, with operating profit also up 1% to HKD 7.244 billion, accounting for 72% of the Group’s revenue and 77% of operating profit. Development property revenue fell 24% to HKD 116 million, recording an operating loss of HKD 21 million. Investment operating profit (mainly dividend income) increased by 1% to HKD 283 million.

Investment properties are reported at an independent valuation of HKD 211.7 billion, resulting in a 5% revaluation deficit of HKD 10.588 billion. The unrealized valuation loss attributable to shareholders was HKD 10.528 billion.