Sun Hung Kai Properties Limited
Sun Hung Kai Properties has been building ‘Homes with Heart’ for over three decades. The Group has already built dream homes for hundreds of thousands of Hong Kong people, and it is dedicated to creating the finest residences for the next generation of homebuyers. Cover Photos: 1 Two IFC, Central 2 YOHO Town, Yuen Long 1234 3 Kelletteria, The Peak 4 Airport Railway Kowloon Station Package 3 Development SUN HUNG KAI PROPERTIES LIMITED Annual Report 2002/03 2 SUN HUNG KAI PROPERTIES LIMITED ANNUAL REPORT 2002/03 Contents 3 Financial Highlights 4 Corporate and Shareholders’ Information 5 Corporate Structure 6 Chairman’s Statement 18 Review of Operations 72 Financial Review 76 Group Financial Summary 77 Directors’ Report 93 Directors and Organization 104 Financial Contents SUN HUNG KAI PROPERTIES LIMITED ANNUAL REPORT 2002/03 3 FINANCIAL HIGHLIGHTS For the year ended 30th June 2003 2002 Change (%) Turnover (HK$ million) 22,945 25,373 -9.6 Profit attributable to shareholders (HK$ million) 6,584 8,519 -22.7 Earnings per share (HK$) 2.74 3.55 -22.8 Dividends per share (HK$) 1.60 1.55 +3.2 Special cash dividends per share (HK$) – 0.60 – Shareholders’ funds per share (HK$) 50.70 53.56 -5.3 Gross rental income 1 (HK$ million) 5,628 5,844 -3.7 Net rental income 1 (HK$ million) 4,100 4,432 -7.5 Net debt to shareholders’ funds ratio (%) 10.9 15.6 -4.7 2 Land bank (million square feet) 45.3 50.4 -10.1 Turnover Earnings and Dividends Net Asset Value per Share per Share* HK$ million HK$ HK$ 30,000 5 60 4.51 25,826 53.48 53.56 25,373 51.56 50.70 25,000
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