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Gemdale expects interim attributable profit to rise at least 40% YOY

Gemdale Properties and Investment Corp. Ltd. expects profit attributable to owners in the six months to June 30 to increase on an annual basis by at least 40%.

The Hong Kong-listed China-focused diversified developer attributed the guidance to a significant increase in property sales area-wise and an increase in revenue in the period due to the Hong Kong Financial Reporting Standard 15 framework.

Gemdale will release its interim financial results statement in August.