Shun Tak records profit of HKD1.45 billion

People get off a Shun Tak Holdings Ltd.’s Turbo Jet ferry

Shun Tak Holdings has announced the consolidated annual results of the company and its subsidiaries for the year of 2017. According to the results consolidated profit attributable to owners of the company stood at HKD1,450 million last year, compared with a loss of HKD587 million in 2016. Meanwhile, the underlying profit adjusted for unrealized fair value changes on investments would be approximately HKD1,242 million, compared with HKD30 million in 2016.

Revenue of the company for the year of 2017 amounted to HKD6,388 million, up significantly from the HKD3,851 million recorded in the previous year.

Basic earnings per share was HKD47.7 cents, compared with a basic loss per share of HKD19.3 cents in 2016.

The board of the company has recommended a final dividend of HKD6 cents per share for the year ending December 31, 2017, in addition to an interim dividend of HKD6 cents per share already paid on June 30, 2017. Subject to shareholders’ approval, the proposed final dividend will be paid on July 19, 2018.

The company is continuing to develop a number of properties and projects in Hong Kong, mainland China, Singapore and Macau.

Of particular note is the residential and commercial complex of Nova Grand in Macau, as well as the adjacent and connected Nova Mall, which is scheduled to open in the latter half of 2019. DB