Hongkong Land posts 67% increase in FY17 earnings to US$5.6 bil on fair value of investment properties

By Samantha Chiew / The Edge Singapore | March 9, 2018 12:51 PM SGT
SINGAPORE (Mar 8): Hongkong Land Holdings, the property group which is a member of the Jardine group, announced FY17 earnings increased by 67% to US$5.6 billion ($7.37 billion) compared to US$3.35 billion in FY16.
Revenue for the full year ended Dec 2017 was US$1.96 billion, 1.5% lower than US$1.99 billion in the previous year. But the group saw an 83.5% increase in change in fair value of investment properties of US$4.68 billion from US$2.55 billion last year.
The group’s investment properties produced higher results due to higher rents in Hong Kong and continuing low vacancies across both Hong Kong and Singapore.
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