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New City Development forecasts YOY increase in FY'17 profit

New City Development Group Ltd. expects a year-over-year climb in profit attributable to owners for the 2017 financial year.

The Hong Kong-listed real estate developer said its projection was a result of the value increase of investments in Taiwan securities.

Publication of the company's financial results for the year ended Dec. 31, 2017, is anticipated March 27.