Property News · January 30, 2019

Hang Lung reports 2018 underlying profit slumps 26 per cent amid fewer sales


Hang Lung Properties reported on Wednesday 2018 underlying profit plunged 26 per cent on year, matching analyst expectations, amid softer sales during a 12-month period that coincided with a downturn in the developer’s project completion pipeline.
For the financial year ended December 31, the developer’s underlying profit totalled HK$4.09 billion (US$522 million), or 91 HK cents per share, compared to HK$5.53 billion, or HK$1.23 per share, a year earlier.
The company will distribute…

Source : South China Morning Post
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