Wharf First-Half Net Profit Up 26% at HK$8.44 Billion

By Chester YungFeaturesDow Jones Newswires

Wharf (Holdings) Ltd. (0004.HK) reported a 26% rise in first-half net profit, partly due to revaluation gains of investment properties.

The Hong Kong-based property investor said Wednesday that net profit for the six months ended June was 8.44 billion Hong Kong dollars (US$1.08 billion), up from HK$6.73 billion a year ago. First-half revenue fell to HK$17.06 billion from HK$20.02 billion a year earlier.

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It declared an interim dividend of HK$0.64 a share (US$0.08), up from HK$0.58 a share it paid the previous year.

Separately, Wharf said it proposes to distribute nearly 49 i-Cable Communications (1097.HK) shares for every 100 Wharf shares held as special dividend.

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

(END) Dow Jones Newswires

August 09, 2017 01:07 ET (05:07 GMT)