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Kerry Properties (683) investor relations material
Kerry Properties H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary20 Aug, 2025
Executive summary
Combined revenue surged 65% year-over-year to HK$9,954 million, driven by strong property sales in Hong Kong and the Mainland, especially from the Jinling project in Shanghai and Mont Verra and La Montagne in Hong Kong.
Profit attributable to shareholders fell 22% year-over-year to HK$612 million, with underlying profit down 30% to HK$978 million due to lower gross margins, reduced rental revenue, higher taxation, and increased costs.
EPS was HK$0.42 (down 22%) and adjusted EPS was HK$0.67 (down 30%).
Interim dividend maintained at HK$0.40 per share.
Contracted sales more than doubled to HK$16,186 million, led by the Shanghai Jinling project and with Mainland projects contributing 66% of the total.
Financial highlights
Gross margin dropped to 27% from 45% year-over-year, reflecting a different product mix and lower rental revenue.
Gearing ratio improved to 38.4% from 41.5% at year-end 2024.
Net debt: HK$45,409 million; total equity: HK$118,173 million.
Net finance costs increased to HK$331 million due to lower capitalised finance costs.
Available financial resources: HK$49,898 million, covering 84% of total borrowings.
Outlook and guidance
Management maintains a positive long-term view on Hong Kong and Mainland economies but expects near-term headwinds and market volatility.
Focus remains on financial discipline, asset enhancement, sustainability initiatives, and prudent landbanking.
What caused the 18% pts gross margin decline?
Shanghai Huangpu project's expected impact?
What is the Group's total sustainable financing?
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Next Kerry Properties earnings date
H2 202519 Mar, 2026
Next Kerry Properties earnings date
H2 202519 Mar, 2026
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Frequently asked questions
Kerry Properties Limited is a property investment and development company with a primary focus on residential, commercial, and mixed-use real estate projects. The company operates mainly in Hong Kong and Mainland China, developing high-end residential communities, office buildings, retail spaces, and urban complexes. Kerry Properties manages a portfolio of investment properties, generating recurring income from leasing activities, and also engages in property management services to enhance asset value. The company is headquartered in Hong Kong, China, and its shares are listed on the HKEX.
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