2022 Half-Year Results
Operating and Underlying Profit
Movement in Underlying Profit
Contributions to Underlying Profit
US$m
$394m
-$21m
US$m
+$81m
-$29m
$572m
I
$425m
$394m
502
142
223
$425m
502
471
481
-250
-279
-401
1H 2021
2H 2021
1H 2022
IP DP Financing, tax, NCI & other expenses
| Financial Highlights | 2022 Half-Year Results
Underlying profit 1H Investment Properties
2021
operating profit
(pre-tax)
Properties operating
Development
profit
(pre-tax)
Net increase in
financing charges,
tax, non-controlling
interests & other
expenses
Note: The above analysis includes share of Joint Ventures & Associates.
Underlying profit 1H
2022
⚫Higher development properties completions on the Chinese mainland
⚫Higher financing charges due to increased net debt
⚫Higher tax charges reflecting greater share of profits from the Chinese
mainland and lower operating margins for Investment Properties in Hong
Kong
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