Business
Sun Hung Kai : Announces 2024 Annual Results
Sun Hung Kai : Announces 2024 Annual
About this update from Sun Hung Kai & Co. Limited
[{"type":"text","content":"\n \n [FOR IMMEDIATE RELEASE]\n \n \n 20 March 2025, Hong Kong\n \n Sun Hung Kai & Co. Announces 2024 Annual Results\n \n \n *** ***\n \n \n Business Transformation Continues to Gain Traction\n \n \n with a Net Profit of HK$377.7 million\n Sun Hung Kai & Co. Limited (Stock Code: 86.HK) (\"SHK & Co.\" or the \"Company\", together with its subsidiaries, the \"Group\") announces a significant improvement in its annual results for the year ended 31 December 2024.\n \n \n Financial Highlights\n \n \n For the year ended 31 Dec\n 2024 2023 Change\n \n Revenue (HK$ million)\n \n \n Pre-tax profit (HK$ million)\n Profit/ (loss) attributable to owners of the Company (HK$ million)\n Basic earnings/ (losses) per share (HK cents) Second interim dividend (HK cents)\n Book value per share (HK$)\n \n 3,762.0\n \n \n 3,916.6\n \n \n -3.9%\n \n \n 861.3\n \n \n 76.6\n \n \n 1024.4%\n \n \n 377.7\n \n \n (471.4)\n \n \n N/A\n \n \n 19.3\n \n \n (24.1)\n \n \n N/A\n \n \n 14.0\n \n \n 14.0\n \n \n -\n \n \n 10.8\n \n \n 10.8\n \n \n -\n \n \n In 2024, the Group navigated a challenging environment to deliver solid financial performance and return to profitability. Despite persistent headwinds from high interest rates and geopolitical tensions, as well as economic weakness in Greater China, its diversified businesses in Credit, Investment Management, and Funds Management remained resilient. It exercised caution in underwriting new loans and managed its investment portfolio effectively. Pleasingly, the growth of its Funds Management business contributed to new revenue streams, and it maintained a robust financial position prioritising capital efficiency and liquidity, positioning SHK & Co. to capitalise on market opportunities created by dislocated markets.\n \n \n With its diversified business model generating sustainable value to shareholders, the Group returned to profitability with pre-tax profit achieving HK$861.3 million (2023: HK$76.6 million), more than a tenfold year-on-year (\"YoY\") increase. The significant improvement in profitability was primarily driven by the improved performance of SHK & Co.'s Investment Management business, with a growing contribution from the Funds Management business. Profit attributable to the owners of the Company was HK$377.7 million (including one-off exchange losses of HK$29.0 million associ...