Prosperity Real Estate Investment Trust chairman Justin Chiu Kwok-hung said the price of the company's shares was stellar last year, and in fact outshone the rise in the price of gold.
'If you compare the growth between gold and [our] share price, we performed much better,' Chiu said. The price of gold rose 29.5 per cent last year, while the property trust's share price rose 32.3 per cent, comfortably outstripping the precious metal, Prosperity Reit said, despite the company's modest performance.
Including the dividend, the overall growth was more than 40 per cent, according to Stephen Chu, chief executive of ARA Asset Management (Prosperity), the trust's manager.
'It was not a bad year,' Chu said.
Distributable income was HK$147.83 million, slightly up on the HK$145.36 million seen in 2009.
The dividend per unit was 11.01 HK cents against 10.98 HK cents in the year-earlier period.
Indicative yield, calculated on the basis of the full-year distribution and the stock's HK$1.76 closing price on December 31 last year, was 6.3 per cent. Total revenue rose 2.5 per cent to HK$270.1 million and net property income grew 2.7 per cent to HK$212.5 million.