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《大行報告》花旗恆隆地產(00101.HK)中期業績符合預期維持「沽售」評級
阿思達克 07-30 14:39

花旗發表的報告指,恆隆地產(00101.HK)上半年基本純利跌4%至22.29億元,為該行對公司財年基本純利預測的52%,盈利下降主要因為物業銷售利潤降低,相關因素部分受利息資本化所抵銷,而核心租賃營運表現則大致符合該行預測。

整體租賃收入按年增長2%至42.04億元,佔該行全年預測的48.3%,期內租賃業務盈利按年增長3%至32.17億元,當中香港租賃業務收入及盈利分別增3%及4%,而零售物業出租率為96%,寫字樓出租率則下跌1個百分點至93%,整體租賃邊際利潤為85.9%。而內地方面,租賃業務收入及盈利分別升1%及3%,佔該行全年預測的46.7%,撇除人民幣貶值因素,期內整體租金收入則按年升7%,租賃邊際利潤則提升至67.9%。

在財務層面,該行認為截至6月底公司淨債務提升至254億元,去年底淨債務規模為149億元。公司宣派中期息每股0.17元,該行維持對公司「沽售」評級,目標價14.1元。

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