Aug. 14, 2012 (China Knowledge) - MTR Corp<0066
>, the operator of Hong Kong
's subway system, has announced that its net profit fell 33% YoY to HK$5.86 billion in the first half of this year, due to decreases in property sales and property revaluation gains.
The largest public transportation provider in Hong Kong proposed an interim dividend of 25 HK cents, the same as last year.
MTR saw its revenue rise 6.1% YoY to HK$17.15 billion in the first half.
Revenue from rail and bus operations grew 6.8% YoY to HK$6.91 billion in the first six months. Total passenger volume increased 4.5% to 850.5 million in the period.
The company, 77% owned by the Hong Kong government, recorded HK$1.74 billion in gains from property revaluations, down from HK$4.41 billion in the same period of 2011.