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00683 KERRY PPT
RTNominal down14.320 -0.060 (-0.417%)
Others

21/08/2020 16:26

{I-bank focus}HSBC cuts Kerry Properties (00683) to HK$24.7

[ET Net News Agency, 21 August 2020] HSBC Global Research lowered its target price for
Kerry Properties (00683) to HK$24.7 from HK$26 and maintained its "buy" rating.
Kerry's 1H underlying profit declined by 65% to HK$1.11bn. The research house said the
weakness is largely attributable to the absence of major property project bookings during
the period.
Looking ahead, HSBC sees Kerry's rental income to stay largely resilient, which should
translate into a steady dividend. It should support investors' confidence in its higher
dividend certainty, unlike the DPS cut event in 1H 2018. HSBC estimated its full-year
FY2020 dividend of 6.9%, which looks attractive. (KL)

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