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2008-3-26 03:15:00 p.m. HKT, XFNA
STOCK ALERT - Hong Kong's Wheelock sharply higher after results
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HONG KONG (XFN-ASIA) - Wheelock and Co Ltd was sharply higher while unit
Wharf (Holdings) Ltd was still under selling pressure after reporting their
results.
At 3:05 pm, Wheelock was up 1.05 hkd or 5.15 pct at 21.45 while Wharf was
down 0.2 hkd or 0.53 pct at 37.55.
Wheelock said its net profit for the April to December period stood at 7.
62 bln hkd, up 21 pct from 6.31 bln a year earlier, due to a 4.25 bln hkd
revaluation gain on investment properties and a higher earnings contribution
from 50 pct-owned Wharf.
It said that Wharf contributed 2.86 bln hkd in earnings for the nine
months, up from 2.06 bln during the same period in 2006.
Meanwhile, Wharf said its net profit for 2007 rose 22 pct to 13.14 bln
hkd on strong property business and exceptional gains.
It said it booked gains of 1.68 bln hkd on securities investments, up
from 53 mln in 2006, while property revaluation gains rose to 9.35 bln hkd
from 7.87 bln.
(1 usd = 7.8 hkd)
george.ng@xfn.com xfngn/xfjamesa
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