Home China Headline Hopewell sees Q1 net rise on home sales

Hopewell sees Q1 net rise on home sales

Hopewell Holdings Ltd, a Hong Kong-based property company controlled by billionaire Gordon Wu, said yesterday first-half profit rose 19 percent, helped by sales at a luxury project in Macau and traffic at its toll road unit. Net income rose to HK$1.34 billion (US$172 million), or HK$1.49, in the six months ended on December 31 from HK$1.12 billion, or HK$1.24, a year earlier, the company said in a statement to the Hong Kong Stock Exchange. Sales more than doubled to HK$2.64 billion, Bloomberg News said. The company earned HK$655 million, about half its profit, from real estate sales in Macau and Guangzhou, southern China's Guangdong Province, as it invests more in property developments. China's rising vehicle ownership also helped boost net income 21 percent at Hopewell's infrastructure unit, the operator of the Guangzhou-Shenzhen Superhighway and two other toll roads. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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