SHKP (00016) 1H net down 17.5% to HK$15.7bn; div HK$0.95

    Sun Hung Kai Properties (SHKP) (00016) said its profit attributable to shareholders for the six months ended 31 December 2014 dropped 17.5% year-on-year to HK$15,696 million.
  The decrease in reported profit was mainly due to lower investment property valuation surplus and profit from property sales. The increase in fair value of investment properties net of related deferred taxation and non-controlling interests for the period amounted to HK$7,654 million (2013: HK$8,918 million).
  Its basic and diluted earnings per share were HK$5.71 and HK$5.65.
  Underlying profit attributable to shareholders, excluding the net effect of fair value changes in investment properties, was HK$8,463 million, down 20.5% year-on-year. The decrease was attributable to lower profit contributions from property sales both in Hong Kong and the Mainland.
  Profit from property sales in Hong Kong for the period decreased by HK$1,377 million, from HK$3,071 million to HK$1,694 million, reflecting decrease in profit contributions from sales of residential units. The Group's net rental income grew 8.1% to HK$7,438 million, mainly driven by positive rental reversions and higher rents for new leases.
  The proposed interim dividend is HK$0.95 (2013: HK$0.95) per share, payable on 24 March.