Page 38 - Hang Lung Properties 2012 Annual Report

For the 12-month period ended December 31, 2012, overall rental
turnover increased by 10% to HK$6,098 million, riding on 3% growth
in Hong Kong and 18% growth on the Mainland. Excluding the effect of
the disposed non-core investment properties, the overall rental turnover
for Hang Lung Properties would have grown as much as 14%. The
Group also achieved growth in overall rental margins to 84% in Hong
Kong and 77% in mainland China. Riding on these positive results,
rental operating profit grew by 11% to reach HK$4,896 million, up 4%
in Hong Kong and 18% on the Mainland.
Hong Kong
During the year under review, steady growth in our leasing portfolio in
Hong Kong supported a 3% increase in rental turnover to HK$3,016
million, with a 4% rise in operating profit to HK$2,525 million. Excluding
the effect of the disposed investment properties, rental turnover of
Hong Kong investment properties would have been up 9%.
Our Hong Kong property leasing portfolio contributed 49% of the
Group’s total rental turnover in 2012.
截至二零一二年十二月三十一日止十二個
月期內，租金收入總額增長百分之十至港
幣六十億九千八百萬元，其中香港上升百
分之三，內地上升百分之十八。倘不計入
已出售的非核心投資物業的影響，恒隆地
產的總體租金收入增長百分之十四。本集
團的整體租金邊際利潤亦取得增長，香港
方面上升至百分之八十四，中國內地上升
至百分之七十七。在這些利好因素帶動
下，經營溢利增加百分之十一至港幣四十
八億九千六百萬元，其中香港上升百分之
四，內地上升百分之十八。
香港
回顧年內，本集團旗下香港物業組合的整
體租金穩定增長，帶動租金收入上升百分
之三至港幣三十億一千六百萬元，經營溢
利上升百分之四至港幣二十五億二千五百
萬元。倘不計入已出售的投資物業的影
響，香港投資物業的租金收入增加百分
之九。
於二零一二年，香港租賃物業組合佔本集
團租金收入總額百分之四十九。
香港物業組合的整體租金穩定增長
Our property portfolio in Hong Kong enjoys steady rental growth
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