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.