HK property agent Midland hits 28-month high on profit forecast

Midland Holdings

23/06/2021 02:56

** Shares of property agent Midland Holdings Ltd  1200.HK 
rise as much as 12.9% to HK$1.75, their highest since February
2019
    ** Stock on course for the best day since Nov. 24; the
ninth-biggest percentage gainer on the Hong Kong bourse
    ** Co expects a net profit for the six months ending June
compared to HK$24 mln ($3.1 mln) loss a year ago (https://bit.ly/3j4lkV7)
    ** Attributes performance to an increase in market share in
Hong Kong and a rebound in the residential property market  
    ** Says it recorded a net profit of HK$160 mln in the first
five months of 2021
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  eases 0.3%, while the benchmark index  .HSI  climbs 0.5%
    ** As of last close, stock had soared 109.5% this year 
($1 = 7.7655 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))