MTR Corporation profit up 22%

Net profit attributable to equity shareholders increased to HK$14.716b.

The company reported the following highlights:

• Total revenue increased 13.2% to HK$33.423 billion with revenue excluding railway subsidiaries outside of Hong Kong increasing 9.1% to HK$21.144 billion
   
• EBITDA increased 11.1% to HK$12.124 billion; EBITDA margin excluding railway subsidiaries outside of Hong Kong increased 0.3 percentage point to 55.2%
   
• Property development profit of HK$4.934 billion mainly from Festival City and Tseung Kwan O Area 56 shopping centre
   
• Profit from underlying businesses (i.e. excluding investment property revaluation and related deferred tax) increased 20.9% to HK$10.468 billion or HK$1.81 per share
   
• Net profit attributable to equity shareholders increased 22.0% to HK$14.716 billion or HK$2.55 per share
   
• Net assets increased 10.0% to HK$129.045 billion
   
• Net debt-to-equity ratio remained low at 11.9%
   
• Final dividend of HK$0.51 per share recommended by the Board, resulting in total dividend for the year of HK$0.76 per share, representing a 28.8% increase