Discovery Bay developer records full-year profit of $856mFriday, 30 June, 2006, 12:00am
About a year ago Macquarie Research cuts its earnings forecast for Hang Lung Properties for 2005 by 16 per cent to $2.98 billion because the sale of its Hong Kong projects would be spread over a longer period than expected. However, it raised forecasts for 2006 by 2 per cent to $4.75 billion and 2007 by 7 per cent to $5.7 billion.14 May 2006 - 12:00am
All five members in the Lai Sun Group have managed to record positive earnings in their latest results, thanks to revaluation gains under the new accounting system.
Property arm Lai Sun Development posted a net profit of $231.37 million, or two cents per share, for the six months to the end of January. This compared with a loss of $1.17 billion in the same period last year.10 Apr 2006 - 12:00am
Hang Lung Properties net profit for the six months to December rose to $1.61 billion from $1.6 billion a year earlier. Excluding gains from the revaluation of its investment properties, its interim profit fell 45 per cent compared with the same period a year earlier. This was incorrectly stated in a B1 article on Wednesday.24 Feb 2006 - 12:00am
Causeway Bay's biggest landlord saw its interim net profit soar to $2.56 billion on a revaluation gain of $2.8 billion. This compared with a restated interim profit of $304 million last year.
The huge revaluation gain surprised many analysts, who had expected it to be less than $1 billion.7 Oct 2005 - 12:00am
Burwill Holdings' net profit in the six months to December 31 jumped to $38.41 million from $9.86 million, thanks to an exceptional gains of $22.7 million. The exceptional gains included net receipt in a litigation settlement and net gain on disposal of long-term investments.9 Mar 1999 - 12:00am
A NEW accounting standard is set to severely restrict companies revaluing their properties, plant and machinery.
Companies revaluing property not held as tradeable stock will no longer be able to realise dividends on the revaluations ahead of a sale.
Also, the booking of the profit on any sale will not reflect historic value.7 Aug 1995 - 12:00am
THIS responds to the letter by D E Webster of the Hongkong and Shanghai Hotels group (February 25) and your news article on February 24 on the hotel group's property booking a gain on the sale of 19 million shares as an extraordinary item rather than an exceptional.8 Mar 1995 - 12:00am
AN exceptional gain from selling an investment property lifted the interim performance of Cheung Wah Development, whose earnings more than tripled in the six months to September, in spite of a decrease in sales.
The household fabrics manufacturer said its profit attributable to shareholders was $52.24 million, up from $16.62 million a year ago.7 Dec 1994 - 12:00am