Cheung Kong Property Profit Jumps 51% as China Sales Surge
- Hong Kong sales fall 16% as mainland sales more than double
- Cheung Kong keeps 2016 Hong Kong sales target of 3,000 homes
Billionaire Li's Empire Strikes Back With Stellar Results
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Cheung Kong Property Holdings Ltd., the developer controlled by Hong Kong billionaire Li Ka-shing, said first-half underlying profit rose 51 percent as strong mainland sales offset a decline in Hong Kong.
Profit before investment property revaluation in the six months to June 30 was HK$8.3 billion ($1.08 billion) from HK$5.54 billion a year earlier, according to a Hong Kong stock exchange statement on Thursday.