Turnover of Kerry Properties Limited for the six months ended 30 June 2009 was HK$5,405 million, which registered a decrease of 23% when compared with the turnover of HK$6,977 million for the corresponding six months ended 30 June 2008. The Group’s turnover mainly comprises proceeds from the sales of properties, rental income as well as revenue from hotel operations, warehouse operations and logistics services. The decrease in turnover during the period was mainly due to the decrease in property sales in Mainland China and the decrease in logistics revenue.

The Group’s consolidated net profit attributable to shareholders for the six months ended 30 June 2009 as shown in the consolidated income statement was HK$1,880 million, representing a decrease of 24% compared with HK$2,483 million reported for the same period in 2008. The Group measured its investment property portfolio on a fair value basis and recorded an increase in fair value of investment properties (net of deferred taxation) of HK$890 million for the six months ended 30 June 2009 (2008: HK$948 million). Before taking into account the effects of the aforementioned increase in fair value, the Group recorded a decrease of 36% in profit attributable to shareholders to HK$990 million for the six months ended 30 June 2009 (2008: HK$1,535 million).

Earnings per share for the six months ended 30 June 2009 were HK$1.32, representing a decrease of 24% compared with HK$1.74 per share for the same period in 2008.

* Quoted from Kerry Properties Limited Interim Report 2009