K Wah International, the property developer chaired by casino magnate Lui Che-woo, announced a plunge in its first-half core profit, because it could only book one-sixth of the earnings from its biggest residential project K City at the former Kai Tak airport site.
Underlying profit, excluding revaluation gain on investment properties, declined 28.7 per cent to HK$1.29 billion (US$165.2 million) for the six months to June, according to a statement to Hong Kong’s stock exchange.
Net profit…
Source : South China Morning Post
Read more…K Wah’s interim core profit drops as it defers booking most of its home sales under accounting rule















