Summary by Moomoo AI
NEW WORLD DEVELOPMENT LIMITED (NEW WORLD DEVELOPMENT) ANNOUNCED 2023/2024 INTERIM RESULTS WITH CORE PROFIT OF HK$4,866 MILLION, UP 12% YEAR-ON-YEAR. Shareholders are entitled to a profit of HK$502 million, excluding one-time non-cash charges related to the sale of the newly created group company limited. The Group's revenue was HK$17,066 million, down 25% year-on-year, mainly due to lower property development receipts in Hong Kong and the Mainland of China. However, gross profit rose 2% to HK$7,257 million, mainly driven by higher gross profit property investments in the K11 project. The property development revenue in Hong Kong was HK$1,246 million and the property development revenue in the Mainland of China was HK$5,495 million. Hong Kong's investment property revenue and...Show More