Disposal lifts Orient Telecom gain

PROFIT attributable to shareholders at Orient Telecom and Technology Holdings for the six months ended June surged 257.93 per cent to $135.53 million - largely boosted by a property disposal.

Earnings per share soared 251.63 per cent to 6.47 cents.

The directors did not recommend an interim dividend. No interim dividend was paid for the first half of last year, either.

Turnover jumped 338.74 per cent to $269.86 million.

There was an exceptional gain of $130.25 million, equal to 96.1 per cent of the attributable profit.

That sum represents the gain on disposal of investment properties less the loss arising from early termination of an interest derivative contract.