Hongkong Land Hldgs Ld said Thursday for the six months ended June 30 it made a pretax loss of $483.8 million compared with a profit of $1.78 billion a year earlier.
-Adjusted earnings up 16% to $281 million
-Net asset value per share $4.81 (Dec. 31, 2008: $5.03)
-Adjusted NAV down 5% to $5.64 (Dec. 31, 2008: $5.92)
-Interim dividend per share unchanged at 6 cent
-Basic loss per share 17.89 cent (2008 EPS 70.95 cent)
-Diluted loss per share 17.89 cent (2008 EPS 68.30 cent)
-Net Debt $2.55 billion at June 30 (Dec 31, 2008: $2.60 billion)
-Residential property markets have shown some recent signs of recovery.
-Commercial property conditions expected to remain challenging for remainder of 2009.
-Continues to enjoy reversionary increases in rental income.
-Full year profits to benefit from timing of residential completions and absence of provisions seen in 2008.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296;
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