CK Asset : First-Half Profit Plunged 58%

By Yifan Wang

CK Asset Holdings Ltd.'s net profit for the first half plunged 58% from a year earlier, dragged by fair value losses on investment properties, as the coronavirus pandemic crippled the firm's businesses across segments.

Net profit was 6.36 billion Hong Kong dollars (US$820.6 million), compared with HK$15.13 billion a year earlier, the real estate company said Thursday.

Revenue rose 6.8% to HK$36.32 billion.

CK Asset expects the global business environment to remain volatile amid the still-evolving pandemic situation and rising geopolitical tensions.

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