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REFILE-Sun Hung Kai Properties says H1 underlying profit up 57 pct
February 28, 2017 / 8:50 AM / 7 months ago

REFILE-Sun Hung Kai Properties says H1 underlying profit up 57 pct

(Corrects Feb 28 item to add Properties in headline)

By Venus Wu

HONG KONG, Feb 28 (Reuters) - Hong Kong’s largest real estate company by market value Sun Hung Kai Properties reported on Tuesday a 57 percent surge in first-half underlying net profit due to higher contribution from development earnings and rental income.

The company, which has long benefited from its diverse portfolio of flats and office space in some of Hong Kong’s best locations, said its underlying profit was HK$14.6 billion ($1.88 billion) in the six months ended Dec. 31, compared with HK$9.3 billion a year earlier.

Profit attributable to shareholders was HK$20.7 billion, 40.3 percent more than HK$14.7 billion recorded in the same period last year. ($1 = 7.7616 Hong Kong dollars) (Reporting by Venus Wu; Editing by Amrutha Gayathri)

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