CK Property on hunt for global opportunities to extend reach to new business areas
Chairman Li Ka-shing says firm finding it a challenge to identify ‘property investments with reasonable returns’ as it reports 51pc surge in interim core profit
The shift was revealed after Hong Kong’s second-largest developer reported underlying profit, excluding a revaluation gain in investment properties, rose 51 per cent to HK$8.33 billion for the first half of the year, the company said in an exchange statement.
Net profit rose 25 per cent to HK$8.6 billion while revenue increased 45 per cent to HK$27.5 billion.
An interim dividend of 38 HK cents per share was declared, up 8.6 per cent from a year ago.
“Negotiations on certain potential investments of a different business nature are under way,” said chairman Li in a statement. “These investments should provide a further impetus to the long-term sustainable growth of the group.”
CK Property first revealed the possibility of diversifying its investment portfolio during an analyst briefing earlier in the year.