Hon Kwok Land Investment Co. Ltd. expects net profit attributable to owners of the company for the year ended March 31 to increase more than 4x year over year.

The Hong Kong developer said in its positive profit alert that the expected surge is mainly due to its gains from its divestment of a bare site in Guangzhou, which was completed in September 2017.

Hon Kwok's earnings statement for the reporting period will be released in late June.