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C C Land expects to swing to HK$280M profit for FY'17

C C Land Holdings Ltd. expects to book a group profit attributable to shareholders of about HK$280 million for the year ended Dec. 31, 2017, compared to the roughly HK$357 million loss incurred in 2016.

In a release, the Hong Kong-based property developer and investor noted a substantial rise in rental income following the completion of its purchase of London's The Leadenhall Building and One Kingdom Street in the first half of 2017, as well as stronger performance by the group's treasury investment business during the year.

The guidance also takes into account a roughly HK$102 million one-off gain on the acquisition of subsidiaries, largely resulting from the rental top-up received from the sellers of The Leadenhall Building.

C C Land Holdings expects to announce its full-year results by the end of March.