bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

authorLocations

authors

paywallTypes

corrections

sponsorType

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Yvonne Liu

Emperor International Holdings, the property arm of Emperor Group, yesterday announced that its underlying annual profit rose 151 per cent, thanks to an asset sale and a surge in home sales.
The underlying profit, excluding property revaluation gains, rose to HK$574 million for the year to March from HK$228.7 million in the previous year.
Including the property revaluation gain, net profit was up 171 per cent at HK$1.32 billion, compared with HK$487.7 million previously.
Turnover soared 519.7 per cent to HK$1.77 billion from HK$284.8 million a year earlier.
Profit was bolstered by the disposal of a luxury residential site at Seymour Road in Mid-Levels  for HK$1.47 billion. Revenue from property sales increased 7,730 per cent to HK$1.49 billion, while rental income rose 22 per cent to HK$201 million.
Emperor International executive director Donald Cheung Ping-keung said the company had acquired investment properties that could boost rental income by up to HK$290 million during this financial  year.
As most of the projects are under construction, only the revenue from sales of a Xiamen residential project could be booked  this year.
The project has a gross floor area of 440,000 square feet. About 40 per cent of the units have been sold at an average of 1,200 yuan (HK$1,376)  per square foot.
Stanley Chan, an analyst at 3V Capital, said the profit of Emperor International was in line with his expectation. However, he expected the revenue to drop significantly  this financial year as the developer had only one project to be booked.
Emperor International proposed a final dividend of 6.2 HK cents per share, against 6 HK cents in the previous year.
Meanwhile, Emperor Entertainment Hotel, the gaming arm of Emperor Group, said its core earnings before interest, tax, depreciation and amortisation (ebitda) rose 11.54 per cent to HK$266.3 million for the year to March from HK$260 million in the previous year.
Ebitda margin rose to 34.9 per cent from 30.7 per cent.
Revenue dropped 2.94 per cent to HK$1.27 billion.
The company proposed paying a final dividend of 4 HK cents per share, against 8 HK cents in the previous year.



Emperor property earnings soar 151pc on sale of site and homes