《業績前瞻》券商料長實(01113.HK)中期重估及出售投資物業前溢利最多跌62% 關注派息
長實集團(01113.HK)將於本周四(8月6日)公布中期業績，公司於5月曾發盈利警告，預期截至2020年6月30日止六個月的股東應佔溢利較2019年同期出現大幅下調。由於來自香港物業項目入賬下降、新冠疫情令旗下英國啤酒及酒吧餐飲集團虧損，綜合3間券商預測長實集團今年上半年重估及出售投資物業前溢利介乎64.83億元至120億元，較去年同期140.45億元，按年倒退45.2%至62.1%。
雖然市場料公司上半年營運收入及溢利按年倒退，但綜合3間券商料長實集團今年每股中期息預測均為0.52元，按年維持平變。
【港物業入賬 拖累溢利跌】
摩根士丹利發表報告表示，料長實集團中期重估及出售投資物業前溢利按年倒退62%至53.28億元，主要是來自香港物業項目EBIT入賬下降(料13.41億元按年跌80%)、新冠疫情令旗下英國啤酒及酒吧餐飲集團虧損(料相關業務上半年EBITDA虧損8億元)，每股重估及出售投資物業前之溢利為1.44元，料每股中期息保持0.52元不變。
大摩料長實集團今年上半年物業銷售收入錄96.72億元(按年跌50%及按半年跌78%)，料物業租務收入35.04億元按年跌7%，料酒店及服務套房業務按年跌43%至13.61億元，估計飛機租賃業務收入按年跌4%至14.98億元；該行料長實集團今年上半年重估及出售投資物業前息稅前利潤(EBIT)按年下滑32%至54億元。
高盛估計長實集團今年上半年重估及出售投資物業前溢利按年將跌45%至76.98億元，主要是缺少本港物業銷售入收益，料其本港物業銷售入按年大跌89%至7億元。
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綜合3間券商預測長實集團今年上半年重估及出售投資物業前溢利介乎64.83億元至120億元，較去年同期140.45億元，按年倒退45.2%至62.1%。
券商│今年上半年重估及出售投資物業前溢利預測(港元)│按年變幅
摩根大通│76.98億元│-45.2%
高盛│64.83億元│-53.8%
摩根士丹利│53.28億元│-62.1%
按長實集團2019年上半年重估及出售投資物業前溢利為140.45億元計
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綜合3間券商料長實集團今年每股中期息預測均為0.52元，按年維持平變。
券商│今年每股中期息預測(港元)│按年變幅
高盛│0.52元│持平
摩根士丹利│0.52元│持平
摩根大通│0.52元│持平
按長實集團2019年上半年每股中期息0.52元計
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