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interim

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									                                                   Sheet1


Sun Hung Kai Properties Limited
1995-1996 INTERIM REPORT
The unaudited results of the Group for the half year ended 31st December, 1995 were as follows:

                                                                                   Unaudited Six Months to
                                                                                  31.12.1995
                                                                                 HK$ Million

Turnover                                                                              12,644
Operating profit                                                                       5,806
Share of profits less losses of associated companies                                     271
Profit before taxation                                                                 6,077

Taxation - Group                                                                         752
         - Associated companies                                                           31
                                                                                         783

Profit after taxation                                                                   5,294
Minority interests                                                                        145

Profit attributable to shareholders                                                     5,149
Interim dividend*                                                                       1,434

Profit retained                                                                         3,715

Earnings per share                                                                      $2.22

Dividend per share                                                                      $0.60

Hong Kong profits tax is provided at the rate of 16.5% (1994: 16.5%) based on the estimated assessable profits for
the period.

The calculation of earnings per share is based on the Group's profit after taxation and minority interests for the six-
month period ended 31st December, 1995 of HK$5,149 million (1994: HK$4,903 million) and on 2,324.5 million shares
(1994: 2,324.5 million shares) in issue during the period.

*Based on 2,389.5 million shares (1994: 2,324.5 million shares)

Condensed balance Sheet (Unaudited) as at 31st December, 1995:
                                                                                          At
                                                                                  31.12.1995
                                                                                 HK$ Million

Non-current assets*                                                                  107,371

Current assets                                                                        22,870
Current liabilities                                                                   15,401

Net current assets                                                                     7,469
                                                                                     114,840
Share capital and reserves                                                            99,299
Minority interests                                                                       289
Non-current liabilities and deferred item                                             15,252

                                                                                     114,840

*Investment properties included in non-current assets are stated at market values as at 30th June, 1995 and 30th




                                                  ²Ä 1 ­¶
                                                   Sheet1


June, 1994 respectively. Revaluation of investment property is only carried out annually at the financial year end.

Purchase, Sale or Redemption of Shares
The Company has not redeemed any of its ordinary shares during the half year ended 31st December, 1995. Neither
the Company nor any of its subsidiaries has purchased of sold any of the Company's ordinary shares during
this period.

Interim Dividend
The Directors of the Company announced an Interim Dividend of 60 cents per HK$0.50 ordinary share payable
 on 18th April, 1996 to shareholders on the Register of Members as at 18th April,1996.

The Register of Member will be closed from 11th April,1996 to 18th April,1996, both days inclusive. In order to
qualify for the above dividend, all transfer forms accompanied by the relevant share certificates must be lodged with
 the Central Registration Hong Kong Limited, Hopewell Centre, 17th floor, 183 Queen's Road East, Hong Kong, the
Company's Registrars, for registration not later than 4:00 p.m. on 10th April, 1996.


                                                                                          By Order of the Board
                                                                                               Clement C.C. Lo
                                                                                                       Secretary
Hong Kong, 20th March,1996.




                                                   ²Ä 2 ­¶
                                               Sheet1




1995 were as follows:

       Unaudited Six Months to
                       31.12.1994
                      HK$ Million

                              11,012
                               5,621
                                 174
                               5,795

                                 864
                                  26
                                 890

                               4,905
                                   2

                               4,903
                               1,348

                               3,555

                               $2.11

                               $0.58

 on the estimated assessable profits for


xation and minority interests for the six-
4,903 million) and on 2,324.5 million shares




                                  At
                          31.12.1994
                         HK$ Million

                             109,951

                              22,281
                              15,060

                               7,221
                             117,172
                              99,179
                                 868
                              17,125

                             117,172

values as at 30th June, 1995 and 30th




                                               ²Ä 3 ­¶
                                            Sheet1


 out annually at the financial year end.


ear ended 31st December, 1995. Neither
ompany's ordinary shares during



er HK$0.50 ordinary share payable


96, both days inclusive. In order to
nt share certificates must be lodged with
83 Queen's Road East, Hong Kong, the




              By Order of the Board
                   Clement C.C. Lo
                           Secretary




                                            ²Ä 4 ­¶

								
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