Hysan Development doubles its net profit in H1

Hong Kong's Hysan Development Co. Ltd, the largest commercial landlord in Causeway Bay, said its profits in the first half of 2008 wereHK$3.34 billion, compared with the HK$1.37 billion gained in the first half of last year

Statistics from Hysan showed that the company's sales increased to HK$791 million up from HK$663 million in the first half of last year. Hysan's share payout increased to HK$14.0 per share, compared with HK$12.0 per share for the same period of last year.

The company said its underlying profit excluded unrealized fair value changes on investment properties and related deferred tax.

Hysan is a leading property investment, management and development company in Hong Kong, with a major office and retail portfolio in its home district.