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2007-10-11 01:32:00 p.m. HKT, XFNA
HK-listed New World China FY net up 61 pct on property sales, rentals growth
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HONG KONG (XFN-ASIA) - New World China Ltd said its year to June net
profit surged 61 pct year-on-year to 1.19 bln hkd from 740.51 mln a year
earlier on the back of robust performances by its property sales and property
rental divisions.
It said the operating profit of its property sales division soared 242
pct to 885.67 mln hkd from 259.63 mln a year earlier, while the operating
profit of its property rental division jumped 34 pct to 334.73 mln from 249.6
mln a year earlier.
The operating profit of the group's hotel division rose modestly to 24.73
mln hkd from 23.3 mln a year earlier, while the property management unit
widened its loss to 6.19 mln hkd from 2.11 mln.
Overall sales surged to 2.47 bln hkd from 1.69 bln a year earlier.
Earnings per share were 31.12 hk cents, up from 19.50 a year earlier.
The board has recommended a final dividend of 6.0 hk cents, up from 4.0 a
year earlier.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/kmq
xfnjcc/xfnkm
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