HK developer Sun Hung Kai's profit falls 20% amid lower sales
Group on track to meet HK$32b full-year sales target despite fewer projects completed in first half: Goldman
Hong Kong
SUN Hung Kai Properties Ltd, Hong Kong's second-biggest developer by market value, said first-half underlying earnings sank 20 per cent as the company booked lower home sales.
Profit excluding property revaluation fell to HK$8.46 billion (S$1.49 billion) for the six months ended Dec 31 from HK$10.6 billion a year earlier, the company said in an exchange filing on Friday. That compares with the HK$9.6 billion median estimate of four analysts compiled by Bloomberg News.
Raymond Kwok is presiding over his first set of earnings as Sun Hung Kai's sole chairman after his brother Thomas was found guilty of corrupting a former official and resigned from the …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Hong Kong developer weighs stake sale in London office skyscraper project
How Hudson Yards went from ghost town to office success story
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Forrest Li’s wife buys Gallop Road bungalow next to the one he has redeveloped
Chinese restaurants spur Hong Kong’s retail property recovery
Asking rents down as demand slows and rental listings surge