The group attributed the decline to non-cash provisions from the Chinese mainland build-to-sell business. Excluding the Chinese mainland non-cash provisions, the group’s underlying profit is US$724 million for FY2024.
Hongkong Land has reported a higher loss in earnings for FY2024 ended Dec 31, 2024 of US$1.39 billion ($1.85 billion), up 138% y-o-y from the US$582 million loss in earnings from the year before.
Underlying profit attributable to shareholders for FY2024 came in at US$410 million, down 44% y-o-y from the US$734 million recorded in the same period a year ago.
