Henry Group revenue up 15 per cent to $65 million
Revenue for property development company Henry Group Holdings rose to about HK$65.8 million (US$8.4 million) for the year to the end of March, 15 per cent up from $57.2 million the previous year.
Henry Group attributes the increase mainly to the continuous expansion of its investment properties portfolio, and occupancy being maintained with a higher tenant retention rate and fewer new lettings as well as less exposure to the luxury retail sector.
Profit for the year attributable to owners of the company was about $34.1 million compared to about $1.57 million last year, with the increase mainly because of growth in net gain in fair value of investment properties.
“Our tenant portfolio is now made up of differentiated vertical service-based retailers including spa and beauty services, food and beverage, catering and soon, making us better able to respond to the growing demand of consumers for personal care services and healthy dining experiences,” says the group.
Its investment properties portfolio in Hong Kong were worth about $3.065 billion at the year’s end. They include…
Jardine Center in Causeway Bay, a 24-storey Ginza-style building where retail businesses can have a presence above the ground-floor level, a concept the group says has proven successful over almost a decade. The centre had a structural frontage construction enhancement for its ground-floor leasable areas plus a lobby renovation, completed in September. The centre has also been relaunched as the brand 50 Jardine to address changes in consumption trends.
L’hart in Lockhart Road is another Ginza-style building of 26 storeys. Its duplex floor layout offers retail tenants the chance to customise their business space. During the year, L’hart brought fashion brand Giordano into its podium at ground level.