Hong Kong's Hang Lung Properties says H1 underlying profit jumped 27 pct

Hang Lung Properties

28/07/2016 06:08

HONG KONG, July 28 (Reuters) - Hong Kong developer Hang Lung 
Properties Ltd  0101.HK  said its underlying first-half profit 
jumped 27 percent per share, driven by higher residential 
property sales despite the city's broader economy being hit by 
slowing growth in mainland China. 
    Hang Lung, the first of the city's closely watched and 
influential property developers to report earnings, said on 
Thursday it earned HK$3.17 billion ($409 million) in underlying 
net profit in the half year ended June 30, or HK$0.70 per share, 
up from HK$0.55 per share in the same period a year earlier. 
    Revenue rose 37 percent to HK$6.31 billion from HK$4.61 
billion in the same period last year, Hang Lung said. 
    Hang Lung's shares were up 2.6 percent after the earnings 
were published, broadly unchanged, while the benchmark index 
 .HSI  was 0.4 percent lower.  
     
($1 = 7.7562 Hong Kong dollars) 
     
 
 (Reporting by Clare Baldwin; Editing by Kenneth Maxwell) 
 ((Clare.Baldwin@thomsonreuters.com; + 852 2843 6571; Reuters 
Messaging: clare.baldwin.thomsonreuters@reuters.net)) 
 
Keywords: HANGLUNG RESULTS/