Property developer and manager Carnival Group International Holdings Ltd. projects its profit for the year ended Dec. 31, 2017, will rise 8x year over year, based on a preliminary review of its unaudited consolidated management accounts.
The expected profit uptick was chalked up to an at least 40% rise in revenue from the company's property development and investment business from the prior year, and a minimum 80% jump in trading gains and its investment business year over year.
Additionally, Carnival Group expects a reduction to the principal amount of its exchangeable and convertible bond worth roughly HK$168 million.
Final results for the 2017 full year are scheduled to be released prior to the end of March, according to a release.
