Henderson Land Development 1st Half Net Profit Up 64% on Year

Henderson Land Development Co. (0012.HK) Tuesday reported a 64% rise in first-half net profit, buoyed by higher property sales.

The real-estate developer said its net profit for the six months ended June 30 rose to 14.16 billion Hong Kong dollars (US$1.81 billion) from HK$8.61 billion a year earlier. Excluding the fair value change of investment properties, the firm's underlying net profit rose 124% to HK$10.73 billion from HK$4.78 billion a year earlier. First-half revenue rose to HK$12.75 billion from HK$9.73 billion a year earlier.

The developer proposed an interim dividend of HK$0.48 per share.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 22, 2017 06:04 ET (10:04 GMT)