Property News · March 9, 2017

Chinese Estates 2016 profit tumbles 17.7pc, dragged by lower rental income


A week after a major share restructuring by the former chairman Joseph Lau Luen-hung, Chinese Estates Holdings reported 2016 net profit fell 17.7 per cent due to a sharp drop in rental income and smaller gains in revaluation on properties as a result of continuing asset disposals.
For the year to December, net profit was HK$6.36 billion (US$818 million), down from HK$7.72 billion a year ago, according to a company filing to the Hong Kong stock exchange on Thursday.
Rental income fell 34.5 per…

Source : South China Morning Post
Read more…Chinese Estates 2016 profit tumbles 17.7pc, dragged by lower rental income