• Thu
  • Jul 24, 2014
  • Updated: 2:42pm


CRE confident of future Tesco profit

China Resources Enterprise (CRE), a retail-focused mainland conglomerate, said net profit sank 51.6 per cent to HK$1.91 billion last year, but the management expects a promising future due to its new joint venture with British supermarket giant Tesco.

Friday, 21 March, 2014, 12:43am

Kerry Properties sees underlying profit fall 6pc

Kerry Properties said underlying profit fell 6 per cent to HK$4.41 billion in 2013 while maintaining it wants to achieve 12 per cent growth in its contracted sales in Hong Kong and on the mainland this year.

18 Mar 2014 - 1:14am

Swire Properties to spend HK$10b on Taikoo Place redevelopment

Swire Properties will spend HK$10 billion over the next few years to turn three industrial buildings in Quarry Bay's Taikoo Place into two grade A office towers, making it one of the company's biggest investments in a project in a decade.

14 Mar 2014 - 4:25am

Fuel savings propel Cathay's profit

Cathay Pacific Airways tripled its net profit last year to HK$2.62 billion largely on the back of savings in fuel costs and a slight improvement in passenger yields as Hong Kong's flagship carrier plans to expand cargo and passenger traffic in 2014.

13 Mar 2014 - 1:00am 2 comments

Wing Hang Bank increases net profit 21.3pc to record HK$2.19 billion

Wing Hang Bank, the second-largest family-controlled lender in the city, made record profits last year because of higher net interest income and capital gains from the disposal of properties and financial assets.

Net profit for Wing Hang, which is negotiating with Singapore's Oversea-Chinese Banking Corp on the terms of a possible sale, jumped 21.3 per cent to HK$2.19 billion.

7 Mar 2014 - 12:52am

Store-cutting Esprit warns of more pain

Esprit expects sales to continue to decline over the next financial year and a turnaround for the struggling fashion retailer is not likely until next year.

Chief executive Jose Manuel Martinez Gutierrez told investors yesterday that store closures would lead to a further slide in sales revenue in the next financial year to June.

15 May 2013 - 4:01am

Sharp logs record loss but says profits will return

Japanese electronics giant Sharp yesterday posted a record annual loss for the second year in a row, and said it would replace its chief after just one year on the job.

The maker of Aquos-brand electronics reported a net loss of 545.3 billion yen (HK$41.6 billion) in the year to March, its worst shortfall, after losing 376 billion yen in the previous year.

15 May 2013 - 2:25am

Fashion chain Esprit heading for 'substantial' yearly loss

The group said it expected to record a substantial loss in the second half of the year to June and hence an overall substantial loss for the full year. Esprit lost HK$465 million in the six months to December.

8 May 2013 - 5:33am

Next Media warns of 'substantially' bigger loss

The group, controlled by Jimmy Lai Chee-ying, reported losses of HK$188.63 million in the fiscal year to the end of March 2012, and a deficit of HK$19.73 million in 2011. Based on its results for continuing operations, this loss was HK$973 million for the 2012 fiscal year, against a profit of HK$9.6 million in 2011.

7 May 2013 - 3:56am

HSBC expected to report big surge in profit

HSBC may post first-quarter pre-tax profit of US$8 billion, 80 per cent higher than in the previous quarter, according to an average estimate of five analysts.

7 May 2013 - 3:56am