Cathay to Move Accounting Centre to Guangzhou
The
Cathay Pacific Airways will move its revenue accounting centre to Guangzhou. Guangzhou Guo Tai Information Processing Company Ltd. owned by a Hong Kong-registered subsidiary of Cathay, will perform the airline's revenue accounting previously done internally by Cathay in Hong Kong. The new company in Guangzhou is expected to start operations by February next year.
Henderson Net Profit up 21.7%
Leading Hong Kong property developer, Henderson Land Development has reported a 21.7 per cent rise in net profit to HK$2.43 billion (US$315 million) for the year ended June 30. Turnover rose by 9.4 per cent to HK$4.15 billion (US$538 million). The company will pay a final dividend of 32 HK cents (4.15 US cents) a share, making a total payout of 51 HK cents (6.6 US cents) for the year. Meanwhile, Henderson Investment saw an increase of 15 per cent in net profit to HK$736 million (US$95.5 million) for the same period.
Dao Hang Bank Lifts Profit for Guoco Group
Guoco Group has reported net profits of HK$372 million (US$48.3 million) for the year ending June 30, an increase of 49.5 per cent over the same period last year. Subsidiary Dao Heng Bank saw a 38 per cent rise in profit over the period to HK$320 million (US$41.5 million), making up 86 per cent of the group total. The company says the net profits at Dao Heng Bank have been rising at group level at a compound average rate of 40 per cent for the past five years.
Sino Land Profit up 110%
Sino Land has reported a net profit leap of 110 per cent to HK$1.16 billion (US$150 million) for the year to June 30. Earnings per share on a fully diluted basis were 58.5 HK cents (7.59 US cents) and the dividend recommended at the final stage was 10 HK cents (1.29 US cents). Meanwhile, Sino Land's parent company, Tsim Sha Tsui Properties, has posted a 144 per cent increase in after-tax profits to HK$654.4 million (US$84.9 million).
Jardine Strategic Holdings Reports 8% Profit Rise
Jardine Strategic has reported an eight per cent rise in its half-year profit to HK$883.74 million (US$113.3 million). The recommended dividend is 3.8 US cents a share, up nine per cent as compared with 1991. On a fully diluted basis, earnings per share grew by 3.7 per cent. The results represent the company's holdings in Dairy Farm, Hong Kong land, Mandarin Oriental and Jardine Matheson.
Jardine Matheson up 12%
Jardine Matheson Holdings had a net profit increase of 12.36 per cent to HK$1.2 billion (US$151.8 million) in the first half. Earnings per share on a fully-diluted basis rose nine per cent to 26.33 US cents. The company will pay a dividend of 3.7 US cents per share.
8