Property investment firm Hongkong Land Holdings reported a 148 percent surge in first-half net profit to US$3.13 billion.
Shares in the Singapore-listed group rose as much as 2.3 percent to S$7.77 and were hovering near their 52-week high of S$7.89.
Here are some of the highlights of the results:
- Hongkong Land earned higher average rents in Hong Kong during the period. Also higher sales completions led to increased profits in both mainland China and Singapore
- The good performance of the Group's investment property portfolio is expected to continue in the second half of the year- Chairman Ben Keswick
- Net asset value per share was US$14.54 as at June 30 compared to US$13.30 at the end of December, 2016
- The company had net debt of US$1.9 billion at June 30, down from US$2.0 billion at the end of 2016.
- It declared an unchanged interim dividend of US$6.00 per share