Tsim Sha Tsui Properties Group (00247.HK) announced that for the six months ended 31 December 2023, after excluding the impact of changes in the fair value of investment properties, the underlying profit attributable to the Group's unaudited shareholders was HK$1.65 billion. Underlying earnings per share was HK$0.8. Taking into account the non-cash investment property revaluation loss of HK$79.4 million (after deducting deferred tax), the net profit attributable to the Group's shareholders for the interim year was HK$1.47 billion. Earnings per share for the interim year were HK$0.71. The Board announced that an interim interest of HK15 cents per share will be paid on April 18, 2024
In the mid-term year, Sino Land's share of total property sales revenue (together with its associated companies and joint ventures) was HK$6.634 billion.
Property sales revenue mainly comes from the sale of residential units and parking spaces completed during the mid-term year, namely Victoria Harbour Link Phase II and Phase III in Southwest Kowloon and ONESOHO in Mongkok, respectively, and the sale of the remaining residential units and parking spaces completed in the previous financial year, including Sino Yulong Mountain in Chengdu, St. George's Mansions in Ho Man Tin, Yanghai in Wong Chuk Hang, Kaihui in Kwun Tong, and Silversands in Ma On Shan.
Looking ahead, Sino Land will launch a number of new projects, including ONE CENTRAL PLACE in Central and Pak Lung III in Yuen Long. These projects have obtained pre-sale agreements. In addition, Sino Land expects to obtain pre-sale consent forms for two other residential projects in 2024, namely the Yau Tong Ventilation Building Property Development Project and the 13th Sunrise Kangcheng Property Development Project. The project promotion plan depends on the time and market conditions of obtaining the consent for pre-sale of the property.