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<Research>CLSA: SHK PPT (00016.HK)'s Increased Interim DPS Is Nice Surprise; TP Raised to HKD148
Recommend 5 Positive 10 Negative 2 |
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SHK PPT (00016.HK) delivered a 16.7% YoY elevation in underlying net profit to HKD12.2 billion for 1HFY26, as a result of front-loaded property sales profit booking in China , which partially offset the decline in profit contributions from property sales and leasing in Hong Kong, CLSA wrote in a research report. The interim DPS of HKD0.98, representing a 3.2% YoY rise, was a nice surprise. Owing to the completion of high-margin projects, the earnings outlook for the next 12 months is positive. Assuming that sales of high-margin inventory can compensate for the shortfall in completed projects, the broker expected net profit to rise by 10.2% and 2.6% YoY for FY27 and FY28, respectively. The broker raised the target price for SHK PPT from HKD110 to HKD148, maintaining its Outperform rating. AASTOCKS Financial News |
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