HK developer's profit soars 55%

Construction work takes place at the Imperial Cullinan (left), a residential building developed by Sun Hung Kai Properties Ltd, in Hong Kong. The developer said full-year underlying profit rose 55 percent to a record high after home sales and rental income increased. Profit, excluding property revaluations, rose to HK$21.5 billion (US$2.8 billion) for the 12 months ended June 30, the Hong Kong-based developer said yesterday.

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