HONG KONG: Sun Hung Kai Properties Ltd., Hong Kong’s biggest developer, reported earnings that missed analysts’ estimates and said it sees more economic headwinds from the pandemic and rising U.S.-China tensions.
Underlying earnings, which exclude property revaluations, dropped 9% to HK$29.4 billion ($3.8 billion) for the year ended June 30, Sun Hung Kai said in a filing Thursday. That missed the average estimate of HK$30.2 billion from 11 analysts surveyed by Bloomberg.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!