Wharf turns profit in mid-year despite 64% drop in property dev. revenue
發佈日期: 2025-08-12 22:56
TVB News
Wharf Holdings' mid-year results turned from a loss to a profit. But their revenue from property development plunged 64 percent. The group believes interest rate trends and the pace of economic recovery are key factors guiding the trajectory of the property market.
In the first half of this year, Wharf Holdings reported revenue of about 5.66 billion dollars or a year-on-year decrease of 19 percent. However, owing to reduced interest expenses and tax payments, the group swung from a loss of 2.6 billion dollars to a net profit of 530 million dollars.
Hotel and logistics income rose by 7 and 11 percent respectively.
The group said its logistics business benefited from the U.S.-China tariff war with manufacturers shipping goods earlier and shipping alliances restructuring, despite a dip in their Hong Kong's port throughput. The group expects the situation may not improve in the second half.
The developer notes that the restructuring of shipping routes stabilised around June this year. During the transition period in the first half, Hong Kong saw some benefits but that was indeed "the dawn before the darkness" -- and that "the dawn has likely already passed for now."
