Ppty Sales +241%
New World China (0917.HK) +0.3% at HK$7.52 midday, may rise further as FY07 earnings beat forecast.
Net profit +60.8% on-year at HK$1.191 billion vs HK$616.65 million tipped by Thomson poll of 3 analysts.
Sharp rise mainly due to strong performance from attributable operating profit in property sales (+241%), with completion of 640,205 square meters worth of GFA of development projects in Beijing, Tianjin, Wuhan, Guangzhou and Pearl River Delta. Also, steady growth from rental operations (+34%), hotel operations (+6%).
As China property outlook stays strong, further upside in stock likely, may test psychological HK$7.80 level. Final dividend at 6 HK cents or 25% payout ratio; full-year yield at 1.1%.
New World China (0917.HK) +0.3% at HK$7.52 midday, may rise further as FY07 earnings beat forecast.
Net profit +60.8% on-year at HK$1.191 billion vs HK$616.65 million tipped by Thomson poll of 3 analysts.
Sharp rise mainly due to strong performance from attributable operating profit in property sales (+241%), with completion of 640,205 square meters worth of GFA of development projects in Beijing, Tianjin, Wuhan, Guangzhou and Pearl River Delta. Also, steady growth from rental operations (+34%), hotel operations (+6%).
As China property outlook stays strong, further upside in stock likely, may test psychological HK$7.80 level. Final dividend at 6 HK cents or 25% payout ratio; full-year yield at 1.1%.
