NWS Holdings interim net profit down by a third

Business | 28 Feb 2020 6:26 pm

NWS Holdings (0659) said its interim net profit dropped 33.4 percent year-on-year to HK$1.51 billion.

Interim dividend of 29 HK cents was declared. Earnings per share were 39 HK cents

The adjusted operating profit decreased 5.8 percent to HK$2.29 billion. Core Business AOP was HK$2.05 billion, increased by 12 percent while strategic portfolio AOP was down by 59.4 percent to HK$241.8 million.

The revenue was down by 7 percent to HK$13.22 billion, for the six months ended 31 December 2019.

Contribution from the operations in Hong Kong contributed 34 percent of the AOP in the first half of the year, the increase of which was mainly due to the contribution from FTLife Insurance, while Mainland China and other regions accounted for 55 percent and 11 percent of the AOP respectively.

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