Swire Properties declares increased dividend despite profit dip

Swire Properties (HKEX: 1972) reported its 2024 annual results, revealing a complex financial picture. While revenue remained relatively stable at HK$14.43 billion, the underlying profit attributable to shareholders decreased significantly to HK$6.77 billion, primarily due to the disposal of assets in 2023, higher finance charges, and reduced Hong Kong office rental income. The company reported an overall loss attributable to shareholders of HK$766 million, compared to a profit of HK$2.64 billion in the previous year, impacted by fair value losses on investment properties.