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Asiasec Properties projects YOY rise in FY'17 net profit

The board of Asiasec Properties Ltd. expects to log a "substantial" year-over-year rise in its consolidated net profit for the year ended Dec. 31, 2017, based on a preliminary review of the company's unaudited consolidated management accounts.

The positive profit alert was issued as the company is expecting a share of profit of associates of approximately HK$99 million for 2017, as compared to a share of loss of associates of roughly HK$31 million for the year ended Dec. 31, 2016.

The Hong Kong-listed real estate investor is in the process of finalizing its final results for 2017, according to a filing.