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Allied Group expects YOY increase in H1 profit

Allied Group Ltd. expects to report a year-over-year increase in net profit for the six-month period ended June 30, partly due to the strong performance of unit Sun Hung Kai & Co. Ltd. and higher contribution from associate Tian An China Investments Co. Ltd.

The company said Aug. 11 that the expected rise in first-half profit is also attributable to a higher revaluation gain of investment properties of unit Allied Properties (H.K.) Ltd. For the first half of 2016, the company's net profit totaled HK$466 million.