Wharf Profit Jumps On Peak Luxury Home Sales
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2018-03-08 HKT 17:16
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Property developer, Wharf, has posted better-than-expected annual profit, boosted by record prices of its luxury residential project on the Peak.
Core profit for last year came in above analysts’ estimates, rising 14 percent year-on-year to HK$15.7 billion. Net profit rose 2 percent to HK$21.8 billion.
In 2017, the company sold five houses and 12 apartments at its joint venture development, Mount Nicholson, for more than HK$9.4 billion.
Two adjoining apartments in the project were sold for HK$132,000 per square foot, which was an Asian record.
The company has proposed an interim dividend of 95 cents per share.
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