Wharf Holdings Limited (WARFY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. A very warm welcome to Wolf Holdings' interim results briefing. I am Angela from the IR team. You can download the PowerPoint presentation using the QR code displayed on this LED backdrop. Today our management team includes Mr. Steven Ng, Chairman and Managing Director, and Mr. Kevin Ho, Director and Company Secretary. Before the PowerPoint presentation and Q&A section with the analysts, may I first share a few things about our backdrop. As some of you may know, we used to feature a different backdrop for each results presentation. This time, we are showcasing the MONAT, our new luxury residential property on the peak in Kowloon. and there is also a special message in the backdrop. This 140 years anniversary backdrop marks an important milestone in the group's history. Founded in 1886, Wolf Holding today stands as the seventh company with the longest history in Hong Kong. So in celebration of this milestone, the board has resolved to declare a special dividend of 20 cents per share, together with the interim dividend of 20 cents, total distribution doubled to 40 cents per share. So let's go back to the PowerPoint presentation. The headline is operating and underlying profits increased by 6%, excluding investments. Since the last quarter of 2025, the group has been unwinding part of the equity portfolio, which results in lower investment income during the reporting period. Excluding the investment income, group revenue increased by 2% while operating profit and underlying net profit both increased by 6%. Despite a challenging operating environment, Mainland IP delivered stable results while the shortfall in Mainland DP sales was covered by stronger contributions from Hong Kong properties. In addition, our logistics business remains resilient ...