Hongkong Land 1H Pretax Loss $483.8M Vs Pft $1,776.5M

"Hongkong Land 1H Pretax Loss $483.8M Vs Pft $1,776.5M | AboutHK.Com - more information about HK"

Dow Jones 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. MAIN FACTS: -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; ian.walker@dowjones.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it Comments Please login to post comments or replies.