Friday, February 22, 2019
Martin Hennecke

Hopewell Holdings' interim core profit climbs 13pc
Hopewell Holdings (0054) said yesterday its interim core profit climbed 13 percent from the previous year to HK$759 million. An interim dividend of 55 HK cents was declared.

Basic earnings per share were HK$2.43, up from 99 HK cents a year ago.

But the Hong Kong-based property, infrastructure, hotel and hospitality group's revenues fell to HK$3.32 billion from HK$3.38 billion.

The group said revenue from investment properties, hospitality and toll road businesses continued to grow, but those positive factors were offset mainly by a decline in property sales recognition at the Hopewell New Town project.

Its listed subsidiary Hopewell Highway Infrastructure's (0747) said its interim net profit grew 34 percent from the previous year to 359 million yuan (HK$442.6 million) mainly due to net exchange gain.

During the period, the group's share of the aggregate net toll revenue of its expressway projects rose 3 percent from 1.092 billion yuan to 1.122 billion yuan.

Hopewell Holdings also announced yesterday that Thomas Jefferson Wu, currently a managing director, has been appointed as deputy chairman of the company, effective yesterday, as well as retaining his managing director post.

Wu, 45, is also managing director of Hopewell Highway Infrastructure, and a director of various group subsidiaries.

Wu joined the group in 1999 as manager of the Executive Committee Office, and was promoted to group controller the following year.

The son of Hopewell Holdings chairman Gordon Wu Ying-sheun, Thomas Wu has been involved in the review of the group's operational performance, strategic planning and organizational effectiveness, and has upgraded its financial and management accounting systems.

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