Hong Kong · Delayed Price · Currency is HKD The Wharf (Holdings) Earnings Call Transcripts
Fiscal Year 2026
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Revenue fell 36% and operating profit 18% year-over-year, with net loss driven by property revaluation deficits and additional impairments. Hong Kong luxury residential remains a bright spot, while Mainland retail and office markets are weak. Gearing improved to 5%.
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Group profit and underlying net profit rose sharply due to lower property write-downs and provisions, with a net cash position achieved after major equity disposals. Hong Kong property and hotel segments showed resilience, while mainland China operations faced headwinds from oversupply and competition.
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Underlying net profit held steady at HKD 2 billion despite a 14% revenue drop and a HKD 2.6 billion revaluation loss. Focus remains on Hong Kong property and logistics, with prudent debt management and a cautious outlook amid market uncertainties.
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Underlying net profit held steady at HKD 2 billion, with revenue and operating profit down due to lower Mainland development property recognition. Gearing remains low at 4.4%, and the group maintains a cautious investment approach amid market uncertainties.