Profit

Profit falls

PUBLISHED : Thursday, 05 September, 1996, 12:00am
UPDATED : Thursday, 05 September, 1996, 12:00am

Wharf Holdings' ongoing transformation into a diversified Hong Kong-China play affected profits in the first half, with its chairman warning investors to expect short-term pain but long-term gain. Net profit fell 57 per cent to $1.3 billion, due mainly to a $1.9 billion exceptional profit in the comparative period.