香港經濟日報 2008/08/08 08:38
由於美國及香港股市疲弱，加上受加元升值及稅務撥備影響，「股王」宏利金融今年第二季純利１０億加元（約７４億元），比去年同期減８﹒５％。 雖然如此，公司仍然增加派息，第二季度股息為每股０﹒２６加元。
期內每股攤薄盈利０﹒６６加元，按年下跌７％；低於市場預期。不過公司總裁 Ｄｏｍｉｎｉｃ Ｄ’Ａｌｅｓｓａｎｄｒｏ表示，在顯著波動的市場環境之下，仍能取得上述 成績，感到滿意。
以同貨幣基礎比較，第二季的保費及存款收入為１７３億加元，比去年同期增長１１％，主要受惠於銷售強勁及期繳保費收入增加帶動。而撇除匯率變化的保險與財富管理業務銷售分別增加１８％及１４％；兩項因素帶動新業務的內涵價值上升１５％至５﹒６２億加元。
公司有７成收入以外幣結算，受到加元升值影響，盈利減少４１００萬加元；同時令保單現金流量淨額減少１００億加元。此外，由於美國和香港股市下跌，期內費用收入有所減少。
截至６月３０日止，資產管理規模達４００３億加元，按年減少１０３億加元。資本金額２８３億加元，股東回報率為１７％。
Net Income
The Company's shareholders' net income for the second quarter of 2008 was $1,008 million, down nine per cent from $1,102 million reported a year earlier. Growth in earnings from a higher insurance in-force base, improved claims experience and gains from higher interest rates and credit spreads along with gains on private equity investments, were more than offset by increased upfront charges from the growth in insurance sales, less favourable credit and equity market experience, tax related charges on leveraged lease investments and the strengthened Canadian dollar. The decline in equity markets, primarily in the U.S. and Hong Kong, over the last few quarters have resulted in lower asset driven fee income. Although credit experience remains satisfactory, this compares to unusually strong results in the second quarter of 2007. In addition, with approximately 70 per cent of our income denominated in foreign currencies, primarily the U.S. dollar, the strengthened Canadian dollar reduced earnings by $41 million. Year-to-date shareholders' net income was $1,877 million compared to $2,088 million in 2007.
Diluted Earnings per Share and Return on Common Shareholders' Equity
Second quarter diluted earnings per common share was $0.66, down seven per cent from $0.71 in 2007. Return on common shareholders' equity was 17.0 per cent for the three months ended June 30, 2008, a decrease of 150 basis points from 18.5 per cent for the three months ended June 30, 2007.
Premiums and Deposits
On a constant currency basis, premiums and deposits grew 11 per cent due to higher sales by the Japan Variable Annuity, John Hancock Mutual Funds and Canadian Individual Wealth Management businesses along with growth in all the insurance businesses. Premiums and deposits as reported in Canadian dollars for the quarter were $17.3 billion, an increase of five per cent from $16.4 billion reported a year earlier.
Funds under Management
On a constant currency basis, funds under management was unchanged from last year, as business growth was offset by the effects of unfavourable equity market performance and scheduled maturities of John Hancock Fixed institutional products. At current exchange rates, funds under management were $400.3 billion as at June 30, 2008, $10.3 billion or three per cent lower than 2007.
Capital
Total capital was $28.3 billion as at June 30, 2008, $0.3 billion lower than $28.6 billion as at June 30, 2007. Of the $4.0 billion of net income reported over the past twelve months, $2.7 billion was returned to shareholders through the $1.3 billion repurchase of 32 million shares and the payment of shareholder dividends in the amount of $1.4 billion. Capital was further reduced by $1.8 billion as a result of unrealized losses on foreign exchange and on available-for-sale securities charged to Other Comprehensive Income.
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