Source:
https://scmp.com/business/companies/article/2072988/new-world-development-net-profit-surges-31-cent-strong-hong-kong
Business/ Companies

New World Development net profit surges 31 per cent as chairman Cheng Kar-shun ‘recovering very well’

The billionaire tycoon’s son, Adrian Cheng Chi-kong, tells the media his father will return to work soon after he reportedly suffered a stroke last month

New World Development executive vice-chairman Adrian Cheng Chi-kong attends the company’s interim results announcement in Hong Kong on Wednesday. Photo: Jonathan Wong

Billionaire Henry Cheng Kar-shun’s New World Development reported better-than-expected earnings for the first half of the current financial year.

The Hong Kong real estate developer saw its net profit climb 31.4 per cent to HK$4.3 billion (US$ 559 million) in the six months ended December 31, the company said in a statement to the stock exchange. Earnings per share stood at 46 HK cents. Analysts polled by Bloomberg had forecast a net profit of HK$3.4 billion.