According to reports from the Hong Kong Wen Wei Po, the Hong Kong economy has entered a turning point, but looking back at the performance of the real estate market in the first half of the year, it remains "remarkable." The two leading real estate agencies in Hong Kong announced their performance for the first half of the year yesterday, all showing ideal results. Centaline Property Group announced that its performance in the first half of the year reached a record high, with commissions amounting to HKD 9.2 billion, an annual increase of over 45%. As for Midland Realty (1200), its interim performance successfully turned from a loss to a profit.
Midland announced yesterday that as of the end of June this year, it recorded a net profit of approximately HKD 32.35 million, a significant increase from a loss of HKD 35.78 million in the same period last year, with basic earnings per share of 4.51 cents. However, the company has not declared an interim dividend for the third consecutive year. During the period, the company's revenue was approximately HKD 2.164 billion, with an operating profit of HKD 49.667 million. The recorded profit was mainly based on the growth of residential sales transactions in Hong Kong in the first half of 2015, which drove an increase in revenue from the residential department. The group plans to open branches under the "Unlimited" brand in the second half of the year, with 10 new branches recently officially put into service.
(Source: China News Service)