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Results

Six months ended 30th June Note 2025
HK$M
2024
HK$M
Change
in %
Revenue 8,723 7,279 +20%
Profit/(Loss) attributable to the Company’s shareholders  
Underlying (a), (b) 4,420 3,857 +15%
Recurring underlying (a), (b) 3,420 3,570 -4%
Reported (1,202) 1,796 N/A
Cash generated from operations 6,103 3,701 +65%
Net cash inflow before financing 6,683 1,284 +420%

HK$

HK$
Earnings/(Loss) per share  
Underlying (c) 0.76 0.66 +15%
Recurring underlying (c) 0.59 0.61 -3%
Reported (c) (0.21) 0.31 N/A
Dividend per share  
First interim 0.35 0.34 +3%

Financial Position

Note 30th June
2025
HK$M
31st December
2024
HK$M
Change
in %
Total equity (including non-controlling interests) 272,547 278,427 -2%
Net debt 42,853 43,746 -2%
Gearing ratio (a) 15.7% 15.7% 0%pt.

HK$

HK$
Equity attributable to the Company’s shareholders per share (a), (d) 47.01 47.35 -1%
(a) Refer to glossary on page 73 for definition.
(b) A reconciliation between reported (loss)/profit and underlying profit attributable to the Company’s shareholders is provided on page 9.
(c) Refer to note 11 to the financial statements for the weighted average number of shares.
(d) Refer to note 25 to the financial statements for the number of shares at the period end.

Underlying profit / (loss) by segment

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