New World Development Posts Rise In Profit

(OTC:

) reported a 29% rise in its net profit for the July-December period. The Central, Hong Kong-based company's net profit for the period surged to 5.85 billion Hong Kong dollars ($755 million), versus a year-ago profit of HK$4.53 billion. Its underlying profit rose 5% to HK$4.41 billion. Its revenue declined 0.7% to HK$26.99 billion in the six months. New World Development's board declared an interim dividend of HK$0.12 per share.