Stock Track | Hang Lung Group Shares Tumble as H1 Profit Declines Despite Revenue Growth

Stock Track07-30

Shares of Hang Lung Group (00010) plunged 5.13% during intraday trading on Tuesday, following the release of the company's financial results for the first half of the year.

According to the filing with the Hong Kong Stock Exchange, Hang Lung Group's attributable profit fell to HK$888 million in the first half, a significant decline from HK$1.68 billion in the same period last year. The company's earnings per share decreased to HK$0.65 from HK$1.24 in the previous year.

Despite the drop in profitability, Hang Lung Group reported revenue growth, with revenue increasing to HK$6.38 billion from HK$5.53 billion a year earlier. The company also declared a dividend of HK$0.21 per share, payable on September 25 to shareholders on record as of August 16.

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