(From Asia Pulse)
BEIJING, March 4 Asia Pulse - Hong Kong's top real estate developer Sun Hung Kai Properties (SEHK:0016) saw its net profit nearly double in the second half of last year, backed by the property market revival led by a recent economic recovery and disposal from long-term investment.
Sun Hung Kai said yesterday that its net profit rose 95 per cent year-on-year to HK$5.55 billion for the six months ended December 2004. Pre-tax profit from property sales jumped 163 per cent to HK$1.54 billion. And it gained HK$1.89 billion from disposal of long-term investments, such as its stake in Asia Container Terminals Holdings.
The result …