Midland Holdings Foresees 'Significant' Increase in H1 Profit

MT Newswires Live06-26

Midland Holdings (HKG:1200) expects a "substantial increase" in its attributable profit for the six months ending June 30 from HK$39 million in the year-ago period, according to a Wednesday filing with the Hong Kong Exchange.

The forecast is based on the attributable profit of HK$170 million in the five months ended May 31, the filing said.

The anticipated rise is attributable to higher operating profit from its Midland Realty and Hong Kong Property business and improvements in mainland China operations.

The real estate company plans to release half-year results by the end of August.

Shares closed 1% higher on Wednesday.

Price (HKD): $0.75, Change: $+0.01, Percent Change: +1.35%

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