Sun Hung Kai's half-year profit jumps 57% as home sales surge

Shanghai

SUN Hung Kai Properties, Hong Kong's largest developer by market value, said half-year underlying earnings rose 57 per cent, as sales benefited from a surging home market.

Profit excluding property revaluations climbed to HK$14.6 billion (S$2.65 billion) in the six months ended Dec 31, 2016, compared with HK$9.3 billion a year earlier, the firm said in a statement to the Hong Kong stock exchange on Tuesday.

Sun Hung Kai's earnings were buoyed by resurgent demand in Hong Kong's housing market, where existing home prices last month reached an all-time hig…