Henderson Land reports 52pc interim profit jump
Result mainly driven by a hefty gain from two asset disposals. Firm expects to offer another 2,300 flats for sale in second half
Henderson Land Development, the property giant chaired by Lee Shau-kee, saw core earnings soar 52 per cent in the first half of the year, driven mainly by a hefty gain from two asset disposals.
The firm, expecting offer another 2,300 flats for sale in the second half of this year, remained upbeat about the market outlook.
“The recent US-China trade disputes have obscured the global economic outlook,” the company said in a filing to the stock exchange on Thursday.
“Nevertheless, Hong Kong’s economic fundamentals remain in shape.”
Following the commissioning of the Hong Kong-Zhuhai-Macao Bridge and Guangzhou-Shenzhen-Hong Kong Express Rail Link, it added Hong Kong is likely to play a more active role in the development of the Greater Bay Area, which would benefit the long-term economic development of the city itself.
Underlying profit, excluding revaluation gains on investment properties, increased 52 per cent to HK$13.8 billion (US$1.76 billion) in the six months to June.