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Hing Kong back in black on securities-trade gain

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Hing Kong Holdings has returned to the black for the six- month period to June 30 with a profit of $25.18 million, due to an unrealised gain on securities trading.

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The company, the property arm of China Travel Services (Holdings) Hong Kong, incurred a loss of $263.69 million during the same period last year.

The company recorded an exceptional gain of $38.4 million in the first half of this year, against an exceptional loss of $238 million a year earlier.

During the period, exceptional items included a $36.75 million unrealised gain on securities trading and $1.65 million gain on write-back for a decline in the value of property interests.

The company said its share of profit from associates was $3.93 million compared with losses of $52.2 million in the same period last year.

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Hing Kong will pay an interim dividend of one cent per share.

No interim dividend was paid a year ago.

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