Property News · August 4, 2017

The Peak Tram operator’s interim net profit doubles after property revaluation


Hongkong & Shanghai Hotels Ltd., the owner of The Peninsula hotel and operator of the tram service to Hong Kong’s Peak, said its first-half profit more than doubled, as higher revaluation of its property portfolio boosted its bottom line.
Net profit jumped to HK$519 million (US$66.4 million), or HK$0.33 per share, due to a HK$359 million gain through a revaluation of its investment property. Excluding the gain, the company’s underlying profit rose 19 per cent to HK$181 million,…

Source : South China Morning Post
Read more…The Peak Tram operator’s interim net profit doubles after property revaluation

You may also like...