Wharf Holdings, one of Hong Kong’s biggest landowners, reported a 66 per cent drop in core profit because of weak property sales in mainland China.
The conglomerate’s core profit came in at HK$2.53 billion (US$322.31 million) for the six months ended June 30, according to a filing to the Hong Kong stock exchange.
Even adjusting for the spin-off of Wharf Real Estate Investment Company (Wharf REIC) last November, the company’s core profit for the first half was down by 9 per…
Source : South China Morning Post
Read more…Hong Kong landowner Wharf sees core profit plunge by two thirds amid falling home sales in mainland China















