Hon Kwok Land Reports 7% Revenue Drop and HK$675.3 Million Loss for FY 2024-25; Basic EPS at HK$0.9374 Loss

Reuters
26 Jun
Hon Kwok Land Reports 7% Revenue Drop and HK$675.3 Million Loss for FY 2024-25; Basic EPS at HK$0.9374 Loss

Hon Kwok Land Investment Co. Ltd. has announced its financial results for the year ending 31 March 2025. The Group's revenue decreased by 7% to HK$1,013 million compared to HK$1,087 million in 2024. This decline was attributed to delays in the sales of the Guangzhou Beijing Road project and the reopening of the Bauhinia Central Hotel. The operating profit before revaluation also saw a significant drop to HK$12.7 million from the previous year's HK$132.1 million. The company reported a loss attributable to shareholders of HK$675.3 million, a stark contrast to the profit of HK$4.6 million recorded in 2024. Shareholders' equity stood at HK$10,527 million, down from HK$11,060 million the previous year. The net assets value per share decreased to HK$14.61 from HK$15.35 in 2024. The gearing ratio of the Group slightly increased to 48.7% from 46.4%. In the Property Development segment, revenue fell to HK$528 million from HK$593 million in 2024, mainly due to the sales recognition from the completed Guangzhou "The Riverside" project and remaining units of Metropolitan Oasis in Nanhai. The segment profit was HK$210.3 million compared to HK$264 million the previous year. The company noted challenges in the China property markets, which have continued to exert downward pressure on financial performance. There was no specific forward-looking guidance provided in the results.

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