Disposals give Cheuk Nang a first-half boost

Cheuk Nang Technologies (Holdings) has seen its first-half profit surge to HK$44.2 million from HK$559,000 a year earlier, driven mainly by the disposal of investment properties.

Turnover for the six months to December 31 jumped to HK$101.82 million from HK$12.65 million previously.

Earnings per share were 2.1 cents, up from 0.02 cents a year earlier.

An interim dividend of 0.1 cents was declared against 0.05 cents last year.

Cheuk Nang Technologies - formerly known as Cheuk Nang Properties (Holdings) - said 90 per cent of its office building Cheuk Nang 21st Century Plaza in Wan Chai was leased.

The company also said it was involved in negotiations to acquire some technology-related firms through share-swap arrangements.