Business Daily Media

Men's Weekly

.

Pacific Century Premium Developments Limited announces annual results for the financial year ended December 31, 2023

HONG KONG SAR - Media OutReach Newswire - 21 February 2024 -

2023 Annual Results – Financial Highlights

(Figures for the corresponding period in 2022 are shown in brackets)

  • Consolidated revenue: HK$ 822 million (HK$ 561 million)
  • Consolidated operating loss: HK$ 89 million (HK$ 215 million)
  • Consolidated net loss attributable to equity holders of the Company: HK$ 466 million (HK$ 598 million)
  • Basic loss per share: 22.89 HK cents (29.34 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, 2023.

The consolidated revenue of PCPD and its subsidiaries (together, the "Group") amounted to HK$ 822 million, representing an increase of 46% compared to the revenue of HK$ 561 million in 2022.

The Group's consolidated operating loss amounted to HK$ 89 million, representing a decrease of 59% compared to the operating loss of HK$ 215 million in 2022.

The consolidated net loss attributable to equity holders of the Company for the year of 2023 was HK$ 466 million, compared to the net loss of HK$ 598 million in 2022.

Basic loss per share for 2023 was 22.89 Hong Kong cents compared to the loss per share of 29.34 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, 2023.

In 2023, we achieved a solid set of results which reflect a period of persistent recovery for the Group. Following several years of global travel restrictions, the international travel and tourism sector has experienced a gradual return to pre-pandemic travel patterns in the past year. This development continued to stand PCPD in good stead.

Park Hyatt Niseko, Hanazono, our hotel operations in Hokkaido, delivered an excellent performance in 2023, as Japan saw a sharp rise in inbound tourists during the year, which was Park Hyatt Niseko's first full year of operation since the country lifted COVID-related travel restrictions on foreign tourists. In 2023, recreational facilities at Niseko Hanazono Resort also recorded a significant increase in the number of visitors and users compared to that of last year.

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, 2023, the office space occupancy was 83%, compared to 81% the previous year.

In Thailand, foreign tourist arrivals continued to increase, which helped drive up revenue for the Group's golf clubhouse and 18-hole golf course in Phang Nga.

Piling work for our property development project at 3–6 Glenealy, Central has been progressing well.

We are cautiously optimistic about the property sectors in Hong Kong, Japan, Thailand and Indonesia in the long run. We will formulate our cost and revenue strategies in preparation for unforeseen situations and also to enhance our business performance.

Mr. Benjamin Lam, PCPD's Deputy Chairman and Group Managing Director, said: "Globally, 2024 will present different challenges, although there will also be opportunities in the Asia-Pacific region. We will monitor closely changes in the market while remaining agile in the way we deploy our resources, with a view to optimising our performance and delivering returns."

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.

News from Asia

The 3rd Liangzhu Forum to Open in China’s Hangzhou to Highlight Harmonious Civilization Interplay

HANGZHOU, CHINA - Media OutReach Newswire - 16 October 2025 - From October 18 to 20, the 3rd Liangzhu Forum will be held in Hangzhou, capital city of east China's Zhejiang Province, when the profo...

Street Showdown. Seven Title-Contending Lineups Converge on Beijing for GT World Challenge Asia Season Finale

BEIJING, CHINA - Media OutReach Newswire - 16 October 2025 - This weekend, the 2025 Fanatec GT World Challenge Asia powered by AWS heads to Beijing for its season-ending showdown, where seven driv...

Kling AI Redefines Content Creation with AI-Powered Films at MIPCOM Cannes

CANNES, FRANCE - Media OutReach Newswire - 16 October 2025 - Kling AI, the AI-powered creative platform from Kuaishou Technology, made a compelling debut at MIPCOM Cannes, the premier gathering o...

OPPO Find X9 Series to Launch Globally, Set to Redefine Mobile Imaging

SHENZHEN, CHINA - Media OutReach Newswire - 16 October 2025 - OPPO, the world's leading smart device brand, today announced the global launch of its latest flagship Find X9 Series following the pr...

Primech Holdings Signs Strategic MOU with GAIB to Unlock First-of-its-kind ARaaS Revenue Models Through Tokenization

SINGAPORE - Media OutReach Newswire - 16 October 2025 - Primech Holdings Ltd. ("Primech" or the "Company"), a leader in AI-powered hygienic robotics, today announced the signing of a strategic Mem...

"Go Where Flavors of Hunan Abound": Hunan Cuisine Goes Abroad, Spreading Cultural New Chapters Through Food

BANGKOK, THAILAND - Media OutReach Newswire - 16 October 2025 - As the spicy aroma of Hunan cuisine wafts through the streets of Bangkok, a cross-border culinary dialogue quietly begins. Recently...

DL & Antalpha US$100M Gold, US$100M Bitcoin Plan

HONG KONG SAR - Media OutReach Newswire - 17 October 2025 - DL Holdings Group Limited (HKEX: 1709) today announced a comprehensive strategic partnership with Antalpha, a global leader in digital a...

Wildberries Launches Purchase on Credit in Kazakhstan

ASTANA, KAZAKHSTAN – Media OutReach Newswire – 17 October 2025 – Wildberries, a leading digital platform in Eurasia, has launched the option to pay for purchases on credit on its marketplace to cu...

XTransfer Shines at the 2025 APSARA Conference

Selected for "Alibaba Cloud Best Practices for Chinese Enterprises Going Global" SHANGHAI, CHINA - Media OutReach Newswire - 17 October 2025 - XTransfer, the World's Leading B2B Cross-Border Trad...

Nikken Sekkei to Exhibit and Present at "Japanese Culture in Architecture and Materials" in Ho Chi Minh City

Exploring the Art of Designing Spaces that Inspire Emotion HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 17 October 2025 - Nikken Sekkei will take part in "Japanese Culture in Architectur...

Brennan Bolsters Leadership to Accelerate Next Growth Chapter

In a move to further embed cybersecurity at the heart of its business strategy and deliver sovereign secure-by-design solutions for its customers, A...

How to Be Investable: Insights from Richelle Nicols, CEO of Pollinatr

Richelle Nicols is the CEO of Pollinatr, a pioneering investment and business development program designed to support and accelerate the growth of s...

What Can Australian SMEs Hope For in a Meeting Between Albanese and Trump?

For small and medium-sized enterprises (SMEs) in Australia, international politics might seem distant—but when leaders like Prime Minister Anthony...

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...