Increased property sales and a steady growth in recurrent income fuelled a 189 per cent rise in net profit at Kerry Properties for the six months to June.
Profit rose to $923.26 million from $319.43 million last year.
The company said it had decided to take advantage of recent increases in property prices by disposing of units in several investment and development properties.
Chief financial officer Chew Fook Aun said the disposals were the main driving force behind the strong first-half figures, with development income accounting for 62 per cent of net profit.
Pre-tax profit was up 159.1 per cent to $1.05 billion from $408.14 million for the corresponding period last year.
Earnings per share were up 140 per cent to 90.37 cents from 37.58 cents, and shareholders will be rewarded with an interim dividend of 30 cents per share in cash.
Deputy chairman and joint managing director Edward Kuok Khoon Loong said the company remained confident about the property market despite the possible impact of the Government's anti-speculation measures.
