Hong Kong's New World Development more than doubles 2007 net profit
Hong Kong-listed diversified conglomerate New World Development Co said its net profit more than doubled in 2007 from increased contributions from associate companies.
The company's net earnings were up 118.4 percent at 5.77 billion Hong Kong dollars, compared with 2.61 billion last year.
Profit from associated companies more than doubled to 1.32 billion dollars.
Revenue fell 625.7 million dollars or 2.6 percent to 23.28 billion dollars.
Earnings per share rose to 1.17 dollars from 0.30.
New World Development's principal activities are the provision of construction and engineering services.
Other activities include provision of telecommunication services, operations of department stores, property investment and development, hotel and restaurant operations, infrastructure operations and investment holding.
Hong Kong-listed diversified conglomerate New World Development Co said its net profit more than doubled in 2007 from increased contributions from associate companies.
The company's net earnings were up 118.4 percent at 5.77 billion Hong Kong dollars, compared with 2.61 billion last year.
Profit from associated companies more than doubled to 1.32 billion dollars.
Revenue fell 625.7 million dollars or 2.6 percent to 23.28 billion dollars.
Earnings per share rose to 1.17 dollars from 0.30.
New World Development's principal activities are the provision of construction and engineering services.
Other activities include provision of telecommunication services, operations of department stores, property investment and development, hotel and restaurant operations, infrastructure operations and investment holding.
