Shum Yip net profit up 41pc

Red-chip Shum Yip Investment said yesterday property sales and expansion of its taxi operations increased net profit 41 per cent to $132.2 million for the six months to June 30, up from $93.6 million for the previous year. Turnover increased 11.5 per cent to $451.8 million for the period, up from $405 million last year. An interim dividend of 2.3 cents was declared.