HKR International Limited (“the Company”) announced today the interim results of the Company and its subsidiaries (“the Group”) for the Financial Year 2020/2021.
Due to the outbreak of COVID-19 epidemic, the Group’s businesses were unavoidably being impacted. Nevertheless, given the diversification of businesses over the years, the Group’s underlying profit excluding net unrealised gains on fair value of investment properties maintained at HK$590.1 million for the six months ended 30 September 2020 (the “Period”), compared to HK$441.0 million in the last corresponding period.
The Group’s unaudited revenue for the Period amounted to HK$2,480.9 million, representing an increase of 30.4% as compared to HK$1,903.1 million for the last corresponding period. Profit attributable to shareholders of the Company amounting to HK$593.6 million shows a decrease of 36.8% as compared to HK$939.2 million for the last corresponding period, which is primarily due to the decrease in unrealised fair value gain on the Group’s investment properties. This property valuation is a non-cash accounting treatment of fair value, which has no material impact on the Group’s cashflow or operations. Basic earnings per share were HK40.0 cents as compared to HK63.2 cents for the last corresponding period.
The Board has resolved to declare an interim dividend of HK4 cents per share to its shareholders for the Period. An interim dividend of HK5 cents per share was paid by the Company to its shareholders for the last corresponding period.
The full interim results announcement is available on the Company’s corporate website (www.hkri.com), under the section of “Investor Relations”, and on the “HKExnews” website (www.hkexnews.hk) of the Hong Kong Exchanges and Clearing Limited.
About HKR International Limited
HKR International Limited has diversified interests in real estate development and investment, property management, luxury hotels and serviced apartments, healthcare services and other investments in Hong Kong, mainland China and across Asia.
The Company’s diverse portfolio includes Discovery Bay and CDW Building in Hong Kong, HKRI Taikoo Hui in Shanghai, and a number of premium residential and commercial properties in Thailand and Japan. HKRI has been listed on The Stock Exchange of Hong Kong since 1989, under the Stock Code of 00480.