Henderson Land Reports Profit Decline Amid Global Uncertainties

Henderson Land Development Co. Ltd. reported a net profit of HKD 5.653 billion for the previous year, marking a 10.2% decrease from the prior year. According to RTHK, the company's underlying profit fell by 38% to HKD 6.063 billion, primarily due to the government's repossession of certain New Territories lands and the sale of an investment property in North Point. The group cited the uncertain economic impact of the Middle East situation as a reason for reducing its final dividend to HKD 0.76 per share, a 42% decrease from the previous year. The total annual dividend, including the interim dividend, amounted to HKD 1.26 per share, down 30% year-on-year. During the period, Henderson Land's revenue increased by approximately 1.9% to HKD 25.74 billion. Property development revenue rose by 17% to HKD 14.64 billion, while rental income fell by over 3% to nearly HKD 7 billion. As of the end of last year, the group held approximately 40.5 million square feet of land reserves in the New Territories, with the Yuen Long area accounting for the largest portion at about 24.1 million square feet. The company noted that the global economy is being affected by geopolitical tensions and fluctuating U.S. trade policies. However, Hong Kong continues to attract numerous companies for public listings, reinforcing its status as an international financial center. The government's accelerated development of the Northern Metropolis is expected to invigorate the local economy, potentially benefiting the real estate market.