SINGAPORE (Aug 3): Hongkong Land, a member of the Jardine Group of companies, reported earnings for the 1H17 ended June more than doubled to US$3.1 billion ($4.2 billion) from US$1.3 billion, thanks to a net gain of US$2.6 billion arising on the revaluation of the group’s investment properties.
During the first half of the year, the group’s underlying profit attributable to shareholders was US$517 million, compared with US$393 million a year ago.
The group’s investment properties produced higher contribution due to higher average rents achieved in Hong Kong while Of the higher sales completions of the group’s development properties -- both residential and mixed-use projects -- led to increased profits in both mainland China and Singapore.
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