Latest news with #BenjaminLam
The Sun
30-07-2025
- Business
- The Sun
Pacific Century Premium Developments Limited announces interim results for six months ended June 30, 2025
2025 Interim Results - Financial Highlights (Figures for the corresponding period in 2024 are shown in brackets) • Consolidated revenue: HK$ 736 million (HK$ 545 million) • Consolidated net loss attributable to equity holders of the Company: HK$ 249 million (HK$ 153 million) • Basic loss per share: 12.23 HK cents (7.52 HK cents) • No interim dividend (No interim dividend) HONG KONG SAR - Media OutReach Newswire – 30 July 2025 - Pacific Century Premium Developments Limited ('PCPD', SEHK: 00432) announced its interim results for the six months ended June 30, 2025. The consolidated revenue of PCPD and its subsidiaries (together, the 'Group') amounted to HK$ 736 million, compared to HK$ 545 million for the corresponding period of 2024. The Group's consolidated loss attributable to equity holders of the Company for the first six months of 2025 totalled HK$249 million, compared to a net loss of HK$153 million for the corresponding period last year. Basic loss per share for the six months ended June 30, 2025 was 12.23 Hong Kong cents, compared to a loss per share of 7.52 Hong Kong cents for the corresponding period of 2024. The Board of Directors did not declare an interim dividend for the first half of 2025. Throughout the first half of 2025, the Group continued to build on its growth momentum and delivered a solid set of results. Our operations in Japan were particularly strong, supported in part by robust tourism growth and a relatively weak Japanese Yen. Park Hyatt Niseko, Hanazono, our hospitality business in Niseko, Hokkaido, reported a significant uplift in revenue. During the period, our ski operations remained a standout performer in the region. Earnings from our recreational facilities at the resort, ski lifts, equipment rentals, 'Hanazono EDGE' (a restaurant and entertainment centre) and Niseko International Snowsports School continued to grow steadily year-on-year. We will remain focused on enhancing Niseko Hanazono Resort into a world-class, all-season luxury resort, and we are confident in its ability to deliver long-term value. In Jakarta, our premium commercial building, PCP Jakarta, delivered a steady performance and remained a reliable revenue contributor to the Group. As of June 30, 2025, the office space committed occupancy was 85 %. The gross rental income amounted to HK$100 million for the six months ended June 30, 2025, as with the same period in 2024. As for the development of the project at 3–6 Glenealy, Central, Hong Kong, the construction of its superstructure has been progressing well. The project is scheduled to be completed by early 2026. Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: 'The year 2025 has been characterised by geopolitical uncertainties and a global economy continuing to adjust to changes. Despite some optimistic projections at the start of the year, the first half has been marked by slower-than-expected economic growth in some developed nations. Despite these headwinds, the global economy has shown encouraging resilience. Inflation in many advanced economies is moderating, and business investment is gradually picking up as confidence improves. With its diversified portfolio and strong business fundamentals, PCPD is well positioned to navigate the evolving landscape and gain its growth momentum. Moving into the second half of the year, we aim to leverage our existing key resources, and maximise value for our stakeholders to achieve sustainable business growth.'
Associated Press
19-02-2025
- Business
- Associated Press
Pacific Century Premium Developments Limited announces annual results for the financial year ended December 31, 2024
2024 Annual Results – Financial Highlights (Figures for the corresponding period in 2023 are shown in brackets) Consolidated revenue: HK$ 901 million (HK$ 822 million) Consolidated net loss attributable to equity holders of the Company: HK$ 230 million (HK$ 466 million) Basic loss per share: 11.29 HK cents (22.89 HK cents) No final dividend (No final dividend) HONG KONG SAR - Media OutReach Newswire - 19 February 2025 - Pacific Century Premium Developments Limited ('PCPD', SEHK: 00432) has announced its annual results for the year ended December 31, 2024. The consolidated revenue of PCPD and its subsidiaries (together, the 'Group') amounted to HK$ 901 million, representing an increase of 10% compared to the revenue of HK$ 822 million in 2023. The consolidated net loss attributable to equity holders of the Company for the year of 2024 was HK$ 230 million, compared to the net loss of HK$ 466 million in 2023. Basic loss per share for 2024 was 11.29 Hong Kong cents compared to the loss per share of 22.89 Hong Kong cents for the previous year. The Board of Directors has not recommended the payment of a final dividend for the year ended December 31, 2024. In 2024, we delivered a robust set of results, indicating that PCPD is now firmly back on a growth trajectory. We had much to benefit from international tourism bouncing back strongly and a devalued yen. In particular, the record-breaking surge in tourism in Japan has helped us achieve a notable rise in occupancy and revenue of Park Hyatt Niseko, Hanazono. As of the winter season of 2023/24, the number of ski rides encompassing ski lifts and gondolas was up 70% from the pre-pandemic period, namely the winter season of 2018/2019. The tourism boom also had a positive impact on our recreational business in Niseko beyond the white season. In Jakarta, Indonesia, the occupancy of our premium commercial building, Pacific Century Place, Jakarta ('PCP Jakarta'), was stable throughout the year and remained a consistent revenue contributor to the Group. As of December 31, 2024, the office space committed occupancy was 85%, compared to 83% in the previous year. Construction of the superstructure at 3–6 Glenealy, Central, Hong Kong, commenced in April, 2024. The work has been progressing well. Completion of the project is scheduled for early 2026. Cautiously optimistic about the property sectors in Hong Kong, Japan, Thailand and Indonesia in the long run, we are confident of our ability to keep improving our business performance and maximise returns in 2025. Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: 'We will keep a close eye on different risk factors and changes. Our approach will remain prudent yet proactive. We will continue to reinforce our business foundation and devise effective strategies to boost profitability, with the ultimate aim of maximising returns for our stakeholders.' The issuer is solely responsible for the content of this announcement. About PCPD
Zawya
19-02-2025
- Business
- Zawya
Pacific Century Premium Developments Limited announces annual results for the financial year ended December 31, 2024
20 24 Annual Results – Financial Highlights (Figures for the corresponding period in 2023 are shown in brackets) Consolidated revenue: HK$ 901 million (HK$ 822 million) Consolidated net loss attributable to equity holders of the Company: HK$ 230 million (HK$ 466 million) Basic loss per share: 11.29 HK cents (22.89 HK cents) No final dividend (N o final dividend) HONG KONG SAR - Media OutReach Newswire - 19 February 2025 - Pacific Century Premium Developments Limited ("PCPD", SEHK: 00432) has announced its annual results for the year ended December 31, 2024. The consolidated revenue of PCPD and its subsidiaries (together, the "Group") amounted to HK$ 901 million, representing an increase of 10% compared to the revenue of HK$ 822 million in 2023. The consolidated net loss attributable to equity holders of the Company for the year of 2024 was HK$ 230 million, compared to the net loss of HK$ 466 million in 2023. Basic loss per share for 2024 was 11.29 Hong Kong cents compared to the loss per share of 22.89 Hong Kong cents for the previous year. The Board of Directors has not recommended the payment of a final dividend for the year ended December 31, 2024. In 2024, we delivered a robust set of results, indicating that PCPD is now firmly back on a growth trajectory. We had much to benefit from international tourism bouncing back strongly and a devalued yen. In particular, the record-breaking surge in tourism in Japan has helped us achieve a notable rise in occupancy and revenue of Park Hyatt Niseko, Hanazono. As of the winter season of 2023/24, the number of ski rides encompassing ski lifts and gondolas was up 70% from the pre-pandemic period, namely the winter season of 2018/2019. The tourism boom also had a positive impact on our recreational business in Niseko beyond the white season. In Jakarta, Indonesia, the occupancy of our premium commercial building, Pacific Century Place, Jakarta ("PCP Jakarta"), was stable throughout the year and remained a consistent revenue contributor to the Group. As of December 31, 2024, the office space committed occupancy was 85%, compared to 83% in the previous year. Construction of the superstructure at 3–6 Glenealy, Central, Hong Kong, commenced in April, 2024. The work has been progressing well. Completion of the project is scheduled for early 2026. Cautiously optimistic about the property sectors in Hong Kong, Japan, Thailand and Indonesia in the long run, we are confident of our ability to keep improving our business performance and maximise returns in 2025. Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: "We will keep a close eye on different risk factors and changes. Our approach will remain prudent yet proactive. We will continue to reinforce our business foundation and devise effective strategies to boost profitability, with the ultimate aim of maximising returns for our stakeholders." Hashtag: #PCPD The issuer is solely responsible for the content of this announcement. About PCPD Pacific Century Premium Developments Limited ("PCPD" or the "Group", SEHK: 00432) is principally engaged in the development and management of premium-grade property and infrastructure projects as well as premium-grade property investments. PCCW Limited ("PCCW", SEHK: 00008) is the single largest shareholder of the Group. Pacific Century Premium Developments Limited
