China Strategic surges 125pc

AN exceptional gain on equity disposal helped boost China Strategic Holdings' attributable profit 125.2 per cent to HK$110.48 million in the first half.

Earnings per share were up 66.7 per cent to 20.7 cents on a fully diluted basis.

As in the previous periods, the directors have not recommended a dividend.

Turnover jumped 74.2 per cent to HK$1.78 billion.

Executive director Mico Chung Cho-yee said Beijing's austerity programme was a factor leading to a squeeze in operating margin, which dropped to 6.7 per cent from 11.5 per cent.

The interim attributable profit takes into account a HK$75.26 million exceptional gain from the disposal of 75 per cent of the group's equity interest in a subsidiary.