New World’s first-half profit rises 29 per cent, propelled by surging home sales in Hong Kong’s property bull market

//New World’s first-half profit rises 29 per cent, propelled by surging home sales in Hong Kong’s property bull market

New World’s first-half profit rises 29 per cent, propelled by surging home sales in Hong Kong’s property bull market

New World Development, Hong Kong’s fourth-largest developer by value, posted the biggest jump in interim earnings in two years, propelled by rising home sales in the first half of its financial year, as it cleared unsold property off its books before a proposed vacancy tax takes effect.The developer’s core profit, excluding revaluation gains on investment properties, rose 29 per cent to HK$5.4 billion (US$687.49 million) in its first half ended December, according to a statement to the Hong…

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By | 2019-02-27T05:36:39+00:00 February 27th, 2019|Business|Comments Off on New World’s first-half profit rises 29 per cent, propelled by surging home sales in Hong Kong’s property bull market