Property News · February 27, 2018

Hong Kong builder New World Development core profit falls 16pc, but beats estimates


Billionaire Henry Cheng Kar-shun’s New World Development on Tuesday reported a 16 per cent decline in interim core profit for the six months ended December as property sales fell 24 per cent, although they were higher than estimates from two brokerages.
Underlying profit, excluding revaluation gain on investment properties, was HK$4.2 billion for the six months to December, down from HK$5 billion a year earlier, according to a filing to the Hong Kong stock exchange. Revenue realised…

Source : South China Morning Post
Read more…Hong Kong builder New World Development core profit falls 16pc, but beats estimates

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