Wheelock profit squeezed

Wheelock & Co reported a 0.1 per cent rise in profit to HK$460.8 million for the six months to September 30. Despite a substantial increase in property sales, the result was hit by a HK$273.8 million property provision and squeezed profit margins. Earnings per share were 22.7 HK cents. It will pay an interim dividend of 2.5 HK cents per share. Wheelock's businesses include property and retailing.