Sun Hung Kai H1 profit falls, but beats forecast

Sun Hung Kai Properties, the world’s No 2 property company by market value, posted a 1.9 per cent drop in underlying profit for the fiscal first half to beat forecasts, and was upbeat on the sector’s outlook despite tightening measures.

Analysts attributed the weaker results to an absence of large-scale projects during the period and have said investors should watch the progress of the company’s new launches closely after a series of new measures to cool the overheated Hong Kong property market.

via Business feed http://www.scmp.com/business/companies/article/1163257/sun-hung-kai-h1-profit-falls-beats-forecast