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The Wharf (Holdings)'s H1 profit up 65%

Aug. 24, 2012 (China Knowledge) - The Wharf (Holdings) Ltd<0004>, a subsidiary of Wheelock and Co Ltd<0020>, announced yesterday that its net profit surged 65% YoY to HK$23.65 billion in the first half of this year, boosted by revaluation gains from investment properties and robust growth in rental revenue.

The company's underlying profit rose 49% YoY to HK$5.43 billion.

The Wharf (Holdings), the operator of Hong Kong's Harbour City and Times Square, saw its revenue soar 87% YoY to HK$18.25 billion in H1.

The developer's contracted property sales in mainland China reached HK$9.2 billion in the period.

The Wharf (Holdings) proposed an interim dividend of 45 HK cents, up from 36 HK cents for the same period of 2011.

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