Wharf (Holdings) Ltd books a 22% rise in 2007 profit

Wharf (Holdings) Ltd<4> on Wednesday reported a 22% rise in 2007 net profit thanks to strong growth in its property investment and development.

For the 12 months ended Dec. 31, its net profit climbed to HK$13.14 billion, compared with HK$10.76 billion of the previous year. Revenue of the year was HK$16.21 billion, up 21% from a year earlier.

It proposed a final dividend of HK$0.44 a piece, the same level as last year.

The Wharf (Holdings) Limited, a listed subsidiary of Wheelock & Co. Ltd<20>, is one of the leading property investment companies in Hong Kong. The Company also has diverse business interest in the areas of CME (communications, media and entertainment) and China operations.