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Hong Kong Aircraft Engineering's profit up 13.4% in H1

Aug. 8, 2012 (China Knowledge) - Hong Kong Aircraft Engineering Co Ltd<0044>, Hong Kong's largest aircraft service company, announced that its net profit attributable to the shareholders grew 13.4% YoY to HK$482 million in the first half of 2012.

Earnings per share for the period were HK$2.9, 13.4% more than in the corresponding period of last year. The aircraft service company declared an interim dividend of HK$0.88 per share, 26% more than in the same period of last year.

In the first half of this year, the company's net operating profit decreased 9.1% YoY to HK$310 million. After-tax earnings from jointly controlled companies, Hong Kong Aero Engine Services Ltd and Singapore Aero Engine Services Pte Ltd, surged 32% from a year earlier to HK$256 million.

Meanwhile, the Hong Kong listed company saw its turnover increased 14% YoY to HK$2.9 billion for the period.

Facing the increasing global economic uncertainty, it is expected that the company will be in a series of challenges in the second half of this year, said Christopher Pratt, chairman of the company.

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