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Carnival Group International's profit to rise 8x YOY for FY'17

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.