Cheuk Nang up by 300pc

CHEUK Nang Properties (Holdings) yesterday reported a 300 per cent rise in profit to $22.3 million for the six months ended December 31, compared with $5.58 million previously.

Turnover increased by 221 per cent to $37.7 million from $11.7 million.

Earnings per share were 15.9 cents, an increase of 98.7 per cent over the previous year's eight cents due to the dilution effect of an enlarged share capital.

The company will pay an interim dividend of 3.5 cents.

Executive chairman Cecil Chao said rental properties continued to provide steady and satisfactory returns.