Citic Ltd 1st Half Net Profit Up 60% to HK$32.3 Billion

By Joanne Chiu Features Dow Jones Newswires

Citic Ltd. (0293.HK) Tuesday reported a 60% rise in net profit in the first half, lifted in part by higher contribution from property operations and revaluation gains.

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The Chinese conglomerate, a Hong Kong-listed unit of Chinese state-owned giant Citic Group, said first-half net profit was 32.3 billion Hong Kong dollars (US$4.13 billion), compared with HK$20.18 billion a year earlier.

First-half revenue rose 7.6% to HK$198.06 billion from HK$184.00 billion the previous year. It recommended an interim dividend of HK$0.11 per share, up 10% from a year earlier.

-Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

August 29, 2017 00:48 ET (04:48 GMT)