Page 27 - Hang Lung Group 2012 Annual Report

but the appreciated value was accounted for as part of
valuation gains for the year. In this case, the “profit” was
not inconsequential – we sold it for HK$901 million while the
value on the books at the time of sale was a mere HK$490
million. The margin was thus 84%.
Because we parted with many non-core investment assets
last year, it is perhaps unrealistic to expect higher total profit
in 2013. All will depend on how many completed flats we can
sell in the coming 11 months. Looking purely at our rental
business, chances are very good that we will outperform
last year.
Ronnie C. Chan
Chairman
Hong Kong, January 31, 2013
ุٙʺ ږ࠽ ᕘʊΐɝ̘ϋࠠПϗू
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ɓϵຬʩ̈ਯ༈يุdϾՉ׵̈ਯࣛ
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