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Tian An China estimates YOY drop in FY'17 net profit

Based on a preliminary review of Tian An China Inve. Comp. Ltd.'s unaudited consolidated management accounts, the company's board expects a substantial year-over-year decrease in net profit for the year ended Dec. 31, 2017.

The projected decline is in light of a total drop in gain of approximately HK$3.80 billion due to the disposal of Tian An China's subsidiaries and its stake acquisition in a target company at a discount, according to a filing.

The real estate developer and manager is in the process of finalizing its final results for full year 2017.