Swire Properties Ltd

01972: XHKG (HKG)
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Swire Properties Earnings: Results In Line; Continue to See Long-Term Value in HKD 100 Billion Plan

Narrow-moat Swire Properties’ 2024 results were within expectations. Recurring underlying profit declined by 11% to HKD 6.5 billion due to weaker Hong Kong office rental income and higher finance costs. Despite a drop in core profits, dividends per share, or DPS, grew by 5% to HKD 1.10, in line with the company’s commitment to a mid-single-digit annual dividend growth.

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