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Sun Hung Kai expects 'significant' YOY decline in H1 net profit

Sun Hung Kai& Co. Ltd. expects a significant year-over-year decrease infirst-half net profit.

The expected decline in net profit for the half year endedJune 30 is attributable to a reduction in the company's share of profit fromSun Hung Kai Financial Group Ltd. following the of a 70% stake in the business in2015.

In addition, the company cited a 50% decrease in profit fromcontinuing operations, net mark-to-market losses from investments and difficultoperating conditions for its consumer finance business in China as reasons forthe expected decline in net profit for the period.

The company expects to announce its unaudited interimresults in August.