Wharf Holdings Posts 14% Decline In 2011 Net Profit

Wharf (Holdings) Ltd

reported a 14% drop in its net profit in 2011. Wharf's 2011 net profit fell to HK$30.57 billion, from HK$35.75 billion in the previous year. Its underlying profit climbed 14% to HK$8.08 billion from HK$7.09 billion. Wharf's revenue surged 24% to HK$24 billion from HK$19.38 billion. The company also declared a second interim dividend of HK$0.7 per share.