HYSAN DEV (00014) releases annual performance report, with a turnover of HK$3.409 billion, a year-on-year increase of 6.2%.

HYSAN DEV (00014) announced its full-year performance for the year ending December 31, 2024. The group achieved a turnover of HK$3.409 billion, an increase of 6.2% year-on-year; basic profit was HK$1.956 billion, an increase of 6.8% year-on-year; profit attributable to owners of the company was HK$35 million, compared to a loss of HK$872 million in the same period last year; basic earnings per share were 3 HK cents, with a proposed second interim dividend of 81 HK cents per share. Turnover increased by 6.2% year-on-year to HK$3.409 billion, while recurring basic profit increased by 6.8% year-on-year to HK$1.956 billion, mainly due to improved operational performance despite a challenging market environment. Core business segments: Retail business turnover increased by 9.5% year-on-year, benefiting from the expansion of luxury brand flagship stores and an increase in renewal rental levels. The year-end retail vacancy rate was 92% (partially due to temporary vacancies resulting from adjustments in tenant mix). Office business turnover decreased by 1.5% year-on-year, with a narrowing decline in renewal rental rates and a 90% occupancy rate.