KERRY PPT Reports Interim NP of $612M, a 22.3% Decrease; Interim DPS Remains at $0.4
Company Overview: KERRY PPT (00683.HK) reported its interim results for the six months ending June 2025.
Financial Performance: The company achieved a turnover of $8.059 billion, reflecting a significant increase of 59.9% year-over-year.
Net Profit Decline: Despite the rise in turnover, net profit decreased by 22.3%, totaling $612 million.
Market Activity: The stock experienced short selling amounting to $3.50 million, with a ratio of 17.873%.
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Citi Anticipates Increased EPS Growth for HK Developers in 2026-2027, Suggests SHK PPT, SINO LAND, and More
Citi Research Insights: Citi Research highlights that investors are focusing on the potential upside of the Hong Kong real estate market for 2026-2027, despite last year's subdued performance, with a polarized rental outlook between luxury homes and office spaces.
Developer vs. Landlord Potential: The report suggests that developers may have greater earnings per share (EPS) upside compared to landlords, benefiting from improved profit margins and new land acquisitions.
Stock Recommendations: Recommended stocks include SHK PPT, SINO LAND, and HANG LUNG PPT, while UBS has made adjustments to its top picks, adding SINO LAND and removing HENDERSON LAND.
Dividend Outlook: The report indicates stable dividends for several companies, with SWIREPROPERTIES and Hongkong Land aiming for mid-single-digit growth, while LINK REIT and others may see a decrease in dividend per unit (DPU) due to negative rental growth.
Citi's Ratings and Target Prices for Hong Kong Developers (Table)
Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with WHARF HOLDINGS and MTR CORPORATION experiencing slight gains, while HENDERSON LAND and NEW WORLD DEV saw declines.
Short Selling Data: Significant short selling activity was noted across several stocks, with HENDERSON LAND leading at $77.95M and a ratio of 26.874%, indicating bearish sentiment among investors.
Analyst Ratings: Analysts have mixed ratings for the stocks, with HYSAN DEV and SHK PPT receiving "Buy" ratings, while WHARF HOLDINGS and NEW WORLD DEV are rated as "Sell."
Market Predictions: CLSA predicts a 5% rise in Hong Kong home prices this year, favoring Hysan and Link REIT as preferred investments.
