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)
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$100 million for the six months ended June 30, 2025, as with the same period in 2024.
As for the development of the project at 3–6 Glenealy, Central, Hong Kong, the construction of its superstructure has been progressing well. The project is scheduled to be completed by early 2026.
Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: "The year 2025 has been characterised by geopolitical uncertainties and a global economy continuing to adjust to changes. Despite some optimistic projections at the start of the year, the first half has been marked by slower-than-expected economic growth in some developed nations. Despite these headwinds, the global economy has shown encouraging resilience. Inflation in many advanced economies is moderating, and business investment is gradually picking up as confidence improves. With its diversified portfolio and strong business fundamentals, PCPD is well positioned to navigate the evolving landscape and gain its growth momentum.
Moving into the second half of the year, we aim to leverage our existing key resources, and maximise value for our stakeholders to achieve sustainable business growth."
Hashtag: #PCPD
(Figures for the corresponding period in 2024 are shown in brackets)
- Consolidated revenue: HK$ 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)
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."
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.
