Hang Lung Properties Posts 26% Decline In Six-Month Profit

Hang Lung Properties Ltd (OTC: HLPPY) reported a 26% drop in its net profit for the July-December period. Hang Lung Properties' net profit for the period ended December 31 declined to HK$2.52 billion, versus HK$3.42 billion, in the year-ago period. Hang Lung's underlying profit surged 29% y/y to HK$1.65 billion, from HK$1.28 billion. Its revenue gained 22% to HK$3.07 billion versus HK$2.52 billion. Hang Lung Properties shares closed at $15.80 yesterday.