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《大行报告》花旗恒隆地产(00101.HK)中期业绩符合预期维持「沽售」评级
阿思达克 07-30 14:39

花旗发表的报告指,恒隆地产(00101.HK)上半年基本纯利跌4%至22.29亿元,为该行对公司财年基本纯利预测的52%,盈利下降主要因为物业销售利润降低,相关因素部分受利息资本化所抵销,而核心租赁营运表现则大致符合该行预测。

整体租赁收入按年增长2%至42.04亿元,占该行全年预测的48.3%,期内租赁业务盈利按年增长3%至32.17亿元,当中香港租赁业务收入及盈利分别增3%及4%,而零售物业出租率为96%,写字楼出租率则下跌1个百分点至93%,整体租赁边际利润为85.9%。而内地方面,租赁业务收入及盈利分别升1%及3%,占该行全年预测的46.7%,撇除人民币贬值因素,期内整体租金收入则按年升7%,租赁边际利润则提升至67.9%。

在财务层面,该行认为截至6月底公司净债务提升至254亿元,去年底净债务规模为149亿元。公司宣派中期息每股0.17元,该行维持对公司「沽售」评级,目标价14.1元。

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