Liu Chong Hing Investment reports attributable profit of $177.14 million

Liu Chong Hing Investment, which controls 45.11 per cent of Liu Chong Hing Bank, has reported an attributable profit of $177.14 million for the six months to June 30, down 21.55 per cent from a year ago.

The company adopted the benchmark treatment under the new practice announced by the Hong Kong Society of Accountants.

The treatment, which marks the worth of investment securities to the latest market value, increased Liu Chong Hing Investment's profit for this year's first half by about $14 million and decreased the profit for the first half last year by about $28 million.

Without the treatment, the company's profit at the interim stage would have dropped 35.5 per cent from a year ago.

Earnings per share were 46.7 cents, down from previous 59.4 cents.

An interim dividend of 14 cents per share will be paid, down from 15 cents previously.