Published on April 10th, 2017 | by Daily Station Team
New World Development Registers Increase in Profit in H2 2014
New World Development Co. Ltd. (NDVLY) recently posted their financial results for the second half of the 2017 financial year. The company that is based in Central, Hong Kong posted an increase of 29 percent in net profit for the aforementioned period.
New World Development saw their net profit increase to 5.85 billion Hong Kong dollars or $755 million, compared to the same period of a year ago, when the company generated HKD 4.53 billion in net profit.
The company’s underlying profit increased by 5 percent, to reach HKD 4.41 billion, while revenues dropped by 0.7 percent, to reach HKD 26.99 billion for the six-month period.
The board of New World Development announced the company would be paying out an interim dividend of HKD 0.12 per share.
New World Development has been trading between $1.83 and $2.635 over the past 52 weeks. The company has a market cap of $10.18 billion. New World Development operates in the real estate industry, engaging in developing and investing in properties, contracting, and offering various service such as transport, property management, facility management and more. The company also engages in operating roads, power plants, waste management plants, container handling, warehousing services and more.