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《大行报告》大摩料恒隆地产(00101.HK)中期基本纯利跌19%维持每股派息17仙
阿思达克 07-29 14:46

摩根士丹利发表研究报告,预期恒隆地产(00101.HK)上半年基本纯利录约18.88亿元,按年跌19%,主要因为期内缺乏住宅销售入帐,预期恒隆中期息维持每股17仙。该行予恒隆目标价20.5元,评级「增持」。

该行预期,尽管人民币偏软,恒隆上半年於内地的租赁收入及税息前盈利(EBIT),料分别较去年下半年升3%及13%,主要受惠上海以外如无锡及大连的商场带动,而上海方面则料只有温和增长,因为上海恒隆广场的增长被港汇恒隆广场装修所抵销,预期恒隆上半年内地租赁EBIT利润率将按年改善100个基点至68%。

另大摩料恒隆本港租赁业务EBIT按年微升1%。市场有消息指,国际时装品牌H&M旗下两大型旗舰店招顶租多月,包括旺角家乐坊及铜锣湾恒隆中心。报告认为,上述消息为恒隆旗下商场未来租赁前景添忧。另外大摩不预期今年上半年有任何住宅销售入帐,因为上半年售出的蓝塘道项目单位,设有三年的付款期。

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