Swire Pacific Ltd A (SWRAF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to Swire Pacific 2025 Interim Result Analyst Briefing. Joining us today at the briefing are Mr. Guy Bradley, Chairman of Swire Pacific, Mr. Martin Moray, Finance Director of Swire Pacific, and Ms. Karen So, Chief Executive Officer of Swire Coca-Cola. Before we take a detailed look at our interim results for 2025, we'd love to share with you a short video highlighting the key developments and achievements of Swire Pacific in the first half of 2025. Please enjoy the video. so so We hope you enjoyed the video. May we now invite Guy, Martin and Karen to take us through the details of the interim results of 2025. Good evening and thank you for joining us. I'll start with the group corporate overview. And I would say at the strategic level, number one, we have very strong underlying profit from the property division, boosted, as you heard earlier, by the excellent disposal of the retail at BCC in Miami and a couple of the other Miami adjacency pieces of land, which we've also managed to dispose. So that's really helped the underlying profit on property That puts the property division 67% committed down their plan of investing 100 billion Hong Kong dollars over the next 10 years. We're only three years into that. So that's a very sort of accelerated performance, I think, in terms of commitment. And I would say that they've got seven major projects under construction at this point in the Chinese mainland. I don't think we've ever had as many projects under construction reflecting that investment and commitment. So there's a lot of work going on on the property side. The other major milestone strategically, I think, for properties in the first half was the successful sale of the first residences that we've built in the Chinese mai...