Modern Australian
Men's Weekly

.

Pacific Century Premium Developments Limited announces annual results for the financial year ended December 31, 2022

Hong Kong S.A.R - Media OutReach - 14 February 2023

2022 Annual Results - Financial Highlights

(Figures for the corresponding period in 2021 are shown in brackets)

  • Consolidated revenue: HK$ 561 million (HK$ 467 million)
  • Consolidated operating loss: HK$ 215 million (HK$ 358 million)
  • Consolidated net loss attributable to equity holders of the Company: HK$ 598 million (HK$ 825 million)
  • Basic loss per share: 29.34 HK cents (42.46 HK cents)
  • No final dividend (No final dividend)

Pacific Century Premium Developments Limited ("PCPD", SEHK: 00432) has announced its annual results for the year ended December 31, 2022.

The consolidated revenue of PCPD and its subsidiaries (together, the "Group") amounted to HK$ 561 million, representing an increase of 20% compared to the revenue of HK$ 467 million in 2021.

The Group's consolidated operating loss amounted to HK$ 215 million, representing a decrease of approximately 40% compared to the operating loss of HK$ 358 million in 2021.

The consolidated net loss attributable to equity holders of the Company for the year of 2022 was HK$ 598 million, compared to the net loss of HK$ 825 million in 2021.

Basic loss per share for 2022 was 29.34 Hong Kong cents compared to the loss per share of 42.46 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, 2022.

As the world began to embark on the path of normality in 2022 following more than two years of COVID-19 pandemic, the Group's business remained steady during the year. In particular in Asia, where various countries and regions relaxed their travel restrictions and reopened borders progressively, we have benefited from improved market sentiment.

Park Hyatt Niseko, Hanazono, our hotel operations in Hokkaido, turned in a satisfactory performance in 2022 year-on-year, mainly because Japan opened up its borders in October. In the month of December 2022, the occupancy was 62%, an increase from 38% recorded in the same period in 2021.

In Jakarta, Indonesia, the occupancy of our premium commercial building, Pacific Century Place, Jakarta ("PCP Jakarta"), remained stable throughout the year. At the end of December 31, 2022, the office space occupancy was 81%, compared to 80% the previous year.

In Phang Nga, Thailand, visitors to the golf clubhouse and the 18-hole golf course and the number of golf rounds increased notably during the year, thanks to the Thai government's decision to ease travel restrictions progressively.

The foundation work for our property development project at 3–6 Glenealy, Central, has been progressing well since its commencement in the first quarter of 2022.

Global tourism arrivals are expected to increase further in 2023. Meanwhile, China's reopening, together with ebbing inflation and slowing interest rate hikes, is likely to help bring Asia's economic growth back on track.

Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: "As the world is moving on from COVID-19, we take a cautiously optimistic outlook on the real estate sectors in Hong Kong, Japan, Thailand and Indonesia. Nonetheless, we will not lose sight of the challenges and uncertainties in 2023, such as inflation and a potential global recession. We will closely monitor market conditions and follow a prudent approach, while staying nimble in the way we operate our businesses in order to capture growth opportunities."

Hashtag: #PacificCenturyPremiumDevelopments

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.

Driving After Brain Injury: Common Challenges and How To Overcome Them.

Suffering a traumatic brain injury (TBI) can drastically influence a person's ability to drive safely. For many, driving represents independence, bu...

The Psychology of Stepping Up: Why We Avoid Helping—and How to Fix That

Most of us like to think of ourselves as kind, helpful people. We imagine that if someone needed assistance—especially in an emergency—we’d st...

Cross-Continental Collaboration: Nutifood and Viplus Dairy to Create Australian- Standard Premium Dairy Brand

Vietnam’s Nutifood has officially entered a strategic partnership with ViPlus Dairy, a heritage-rich dairy manufacturer with over 130 years of ex...

Commercial Plastering Can Boost Your Business Appeal

In business, appearances matter. The way your space looks sets the tone for how clients, customers, and even your staff perceive your brand. A well-...

How to Transfer Registration When You Buy a Used Car in Brisbane

Purchasing a second-hand car can be a thrilling experience, but there's more to it than simply handing over the cash and driving off. One very impor...

Expert Tips for Comparing Budget Movers and Energy Providers For a Modern Apartment

Starting a new life in a modern apartment can be a challenging yet exciting step. While moving into a modern apartment, people always need reliable ...

Slowing Down in Nature: My Experience on Orchid Classic Cruise in Lan Ha Bay

Why Orchid Classic is a Top Choice for Lan Ha Bay Lan Ha Bay, a hidden gem adjacent to the more famous Ha Long Bay, offers travelers a quieter and ...

Your Next Travel Essential? Why Aussies Love Lightweight Electric Wheelchairs

Planning for a trip or just getting around town? A lightweight electric wheelchair could be your perfect travel mate. Whether it’s a stroll throug...

Australian Study Woes – What is a Confirmation of Enrolment?

Recent changes to Australian study visas are altering the landscape for international students who want to learn and work on our shores.  To secur...

Metal lockers vs. wooden lockers: which is better?

Lockers—the ultimate background hero of the workplace. They might not have the flashiness of that overpriced espresso machine in the break room, b...

Invisalign Treatment: What Your Dentist Wants You to Know

When straightening the teeth, out-of-date metal braces are no longer the only option. Nowadays, Invisalign is among the most highly sought-after alt...

The Best Nail Art for Short Nails

Short nails often get overlooked in the world of nail art, but they’re actually the perfect canvas for stylish, sophisticated designs. Whether you...

How Much Does a Skip Bin Cost? Skip Bin Prices, Sizes & What Influences the Price

Regardless of whether you're renovating a house. You are tidying up your backyard, or running a construction site. Chances are you'll require a skip...

Panoramic Elevators: Combining Functionality with Aesthetic Appeal

In the evolving world of building design, the demand for architectural features that are both practical and visually striking continues to rise. One...

No Dig, No Drama: Sydney Pipe Relining Explained

You know that feeling when water starts pooling where it shouldn't? Or received a quote for pipe repairs that made your eyes water? Let's chat about...

The SEO Benefits of AI-Optimized Landing Pages: Smarter Metadata, Faster Load Times

Landing pages are integral to the conversion funnel in digital marketing. Yet, when SEO works well to drive traffic to the landing page, it's just a...

How to Reduce Turbo Lag with an Upgraded Mazda BT-50 Exhaust System

Are you struggling with turbo lag affecting your driving experience?  Did you know upgrading your Mazda BT-50 exhaust system could be the key to u...

How to Segment Email Lists Based on Content Engagement (Not Just Demographics)

Email segmentation generally refers to age, location, gender demographic, and conventional elements. While this could be helpful information, it doe...