China Light profits up 11.4%
China Light & Power has posted an 11.4 per cent increase in profits to HK$3.17 billion (US$411 million) for the year to September 30. Sales to the manufacturing sector remained weak but were balanced by demand from elsewhere, notably China, to which sales rose by 73 per cent in energy terms. The directors will recommend a final dividend of 38 HK cents (4.9 US cents) bringing total dividend for the year to HK$1.04 (US$0.13).
New World's net profit up 102%
New World Development reported a profit surge of 102 per cent to HK$2.36 billion (US$306 million) in the year to June. Group turnover rose 29 per cent to HK$12.46 billion (US$1.61 billion) and the fully diluted earnings per share were up 89 per cent to HK$1.61. The company announced a final dividend of 47 HK cents (6.1 US cents) taking the total for the year to 68 HK cents (8.8 US cents).
Hong Kong Telecom up 16%
Hong Kong Telecom has posted a 16 per cent rise in profits to HK$3.169 billion (US$411 million) for the six months ending September 30. Earnings per share amounted to 28.4 HK cents (3.68 US cents) and the interim dividend is 20.3 HK cents (2.63 US cents).
Wah Kwong's profit falls 7.8%
Wah Kwong Shipping Holdings' results for the six months ended September 30 showed a 7.8 per cent profit fall to HK$174 million (US$22.39 million). Earnings per share were 17.71 HK cents (2.3 US cents), against 19.2 HK cents (2.49 US cents) previously. An interim dividend of 1.5 HK cents (0.19 US cents) was declared.
OTB net profits leap 73%
The Overseas Trust Bank (OTB) has posted a 73 per cent surge in net profits to HK$353 million (US$45.8 million) for the year ended June 30. The transfers to inner reserves were substantially reduced from last year's HK$2.81 million (US$364,900) to HK$1.16 million (US$150,600).
Evergo profit jumps 23.6% at interim
The Lau investment holding company, Evergo International, has recorded an increase of 23.6 per cent in net profit to HK$114.45 million (US$14.85 million) for the six months ended June 30. Its property investment arm, Chinese Estate Holdings, had a profit of HK$282.68 million (US$36.7 million) over the same period, up 16.8 per cent. Turnover at both companies fell. At Evergo it was down 42.6 per cent to HK$504 million (US$65 million) and at Chinese Estates, the figure dropped by 21 per cent to HK$1.6 billion (US$205 million).
10