Hopewell Has High Hopes in Macau
Written on March 2, 2007 by admin
Hopewell Holdings (0054), controlled by Gordon Wu Ying-sheung, posted a 19 percent rise in first-half net profit, mainly driven by housing developments in Macau and its highway business in China.
Profit for the six months to December 31 rose to HK$1.336 billion from HK$1.118 billion a year earlier, while turnover more than doubled to HK$2.64 billion.
The group’s property projects contributed HK$655 million, while mainland toll roads accounted for HK$627 million of net earnings.
Deputy managing director Thomas Jefferson Wu - Gordon Wu’s son - said property development has became a significant profit contributor to the company and this trend will continue in the second half to June 30, when HK$1.5 billion in revenue from pre- construction sales of Nova City Phase II in Macau will be recognized.
As for its mainland highway business, the company is keen to become involved in constructing a bridge linking Hong Kong, Zhuhai and Macau through its 73 percent-owned unit Hopewell Highway Infrastructure (0737).
Technorati Tags: macau
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