Swire Properties reports strong first half 2025 earnings, boosted by disposals

Swire Properties Limited announced a 15% increase in underlying profit to HK$4,420m for the first half of 2025, primarily due to the disposal of its interests in Brickell City Centre in Miami. This contrasts with a reported loss of HK$1,202m, influenced by a fair value loss of HK$4,680m on investment properties. Despite a 4% decrease in recurring underlying profit to HK$3,420m, the company declared a first interim dividend of HK$0.35 per share, a 3% increase from 2024, and completed a HK$707m share buy-back programme. The company is committed to its HK$100bn investment plan, with 67% already deployed across Hong Kong, the Chinese Mainland, and Southeast Asia.

Capital expenditure in the first half of 2025 amounted to HK$766m in Hong Kong, HK$1,076m in the Chinese Mainland, and HK$5m in the U.S.A. Total outstanding capital commitments at June 30, 2025, reached HK$30,069m, including HK$10,806m from joint venture companies. Strategic disposals in the U.S.A. included the Brickell City Centre land for US$211.5m and the shopping centre and car park for up to US$548.7m. The company's net debt decreased to HK$42,853m, partially offset by capital and development expenditure.

The company is preparing for its 2050 sustainability goals after achieving its 2030 targets six years ahead of schedule. Swire Properties also announced a new electronic dissemination of corporate communications, with all future communications to be published on its website and HKEX's website, replacing printed copies for non-actionable communications. Shareholders are encouraged to provide their email addresses for notifications.