Financial Markets
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks

Latest News
 Search News  Or
New World Dev posts 20% profit growth for 1st-half period

Mar. 2, 2012 (China Knowledge) - New World Development Co Ltd<0017>, controlled by Henry Cheng, the son of Hong Kong billionaire Cheng Yu-Tung, reaped HK$5.22 billion in net profit in the six months ended Dec. 31, 2011, reflecting a year-on-year increase of 20% from HK$4.35 billion.

The first-half profit increase was principally boosted by stronger gains from property sales and rentals, said the Hong Kong-listed real estate developer.

The firm's underlying profit, excluding property revaluation gains, reached HK$2.83 billion in the first-half period. A dividend of HK$0.10 per share was declared, unchanged from a year earlier.

Revenue for the six-month period rose 27% year on year from HK$15.08 billion to HK$19.10 billion,

At present, New World Development has land reserves of over 9.6 million square feet of potential floor area, more than 6.2 million sq ft of which is for residential properties.

The company also owns over 18.6 million sq ft of agricultural land to be converted into commercial land, sources reported.

Add this     
Copyright © "2015"

Send feedback or comments to:

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services


 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved