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HKR posts 93pc gain on projects

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HKR International's profit jumped 93.05 per cent to HK$314.3 million for the six months to September 30 from HK$162.8 million a year ago.

Turnover amounted to HK$1.29 billion, up 18.82 per cent from a year earlier.

An interim dividend of 6 HK cents was given, down 33.33 per cent from 9 HK cents previously.

Earnings per share were 27.2 HK cents against 14.1 HK cents a year ago.

During the period, the group finalised the construction accounts of Discovery Park development project and settled all contractual claims with the joint developer and the contractors.

This resulted in an adjustment in respect of over-accrual of cost of properties sold in the previous periods of HK$168.7 million which has been offset against the cost of sales in the current period.

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