Hopson Development underlying profit jumps to HK$1.5bBusiness | 21 Aug 2019 4:19 pm
Local developer Hopson Development (0754) reported underlying net profit surged by 74.4 percent to HK$1.55 billion for the first half from the year before due to the increase in properties delivered and rental income.
Revenue increased by 45.5 percent to HK$7.22 billion.
Net profit, including the gains from investment properties and non-recurring items, grew by 7.3 percent year-on-year to HK$2.66 billion.
Income from properties sold under sale and pre-sale contracts amounted to 10.37 billion yuan (HK$11.52 billion), with a gross floor area of 24.2 square meters. The GFA entered into sale and pre-sale contracts and yet to be delivered to buyers was 1.99 million sqm, totaling HK$16.4 billion which will be recognized as revenue in the second half this year.
Hopson decalred an interim dividend of 10 HK cents.