The Hongkong and Shanghai Hotels, Limited Announces Annual Results for the Year Ended 31 December 2014 (China)
HIGHLIGHTS
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The Hongkong and Shanghai Hotels, Limited Announces Annual Results for the Year Ended 31 December 2014 (China)
HIGHLIGHTS
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Category: Asia Pacific - China - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2015-03-20
Key financial results - Turnover and EBITDA increased by 6% and 17% to HK$5,838 million and HK$1,528 million respectively
- Underlying profit attributable to shareholders increased by 57% to HK$804 million
- Profit attributable to shareholders amounted to HK$1,146 million, after including property revaluation gains, net of tax and non-controlling interests (2013: HK$1,712 million )
- Earnings per share and underlying earnings per share of HK$0.76 (2013: HK$1.14) and HK$0.53 (2013: HK$0.34) respectively
- Final dividend of 18 HK cents per share, making a total dividend of 23 HK cents per share for 2014 (2013: 16 HK cents per share)
- Shareholders' funds as at 31 December 2014 amounted to HK$35,901 million or HK$23.67 per share (2013: HK$35,105 million or HK$23.37 per share)
Key developments - Our first hotel in Europe, The Peninsula Paris, opened on 1 August 2014 and has garnered a high level of acclaim from guests and from the industry
- Progress has been made in partnership with Grosvenor to develop The Peninsula - London in an exceptional location in Belgravia overlooking Hyde Park Corner
- In January 2014 we signed a conditional shareholders' agreement with Yoma Strategic Holdings Ltd. and First Myanmar Investment Co., Ltd. to develop The Peninsula Yangon in the former Myanmar Railway Company headquarters building in the centre of Yangon, Myanmar
- We have commenced major renovation projects for The Peninsula Beijing and The Peninsula Chicago, with construction of both scheduled to start in 2015
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