On August 7, WHARF REIC rose 3.27% in regular trading, trading at HK$31.66/share with turnover of HK$75.07 million, extending the previous session's strong momentum following its interim results release.

The company reported H1 results on August 6, with attributable loss narrowing sharply to HK$176 million from HK$2.41 billion a year earlier, a 92.69% reduction. Underlying net profit grew 6% year-over-year to HK$3.311 billion. The interim dividend was raised 42% to HK$0.94 per share, with the payout ratio lifted to 90%. Additionally, the group signed an agreement to sell Singapore Wheelock Place for S$1.111 billion, which is expected to reduce the net gearing ratio to approximately 11% upon completion.

Multiple investment banks responded positively, with CLSA maintaining an Outperform rating citing above-expectation results, and Citi maintaining a Buy rating, calling the payout ratio increase a significant positive surprise.

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