Tomson Holdings Private Ltd.(0258.HK), a Hong Kong based investment holding private company, on Wednesday reported significantly higher profit in the first half as revenues surged mainly with the sales proceeds of the first phase of Thomson Foresta at Pudong, Shanghai, China.
Profit for the period attributable to owners of the company increased to HK$782.19 million from HK$103.67 million a year ago.
Basic earnings per share improved to HK 35.96 cents from 5.03 cents in the prior year.
The latest results reflected taxation of HK$967.20 million, principally from sale of the first phase of Tomson Foresta, significantly higher than last year's HK$45.59 million.
Profit before tax climbed to HK$1.75 billion from HK$0.15 billion a year ago.
The property development and trading segment, the primary profit contributor, reported swinging to segment profit of HK$1.63 billion from a loss of HK$28.25 million a year ago. This was mainly helped by the property sales in Shanghai, with revenue from the sale of properties amounting to HK$2.51 billion.
Total revenue improved to HK$2.641 billion from HK$129.57 million in the prior year.
Gross proceeds from operations rose to HK$2.645 billion from HK$133.55 million a year ago.
Revenue from contracts with customers climbed to HK$2.55 billion from HK$37.04 million in the last year.
In the Hong Kong Market, the shares had closed 0.35 percent lower at HK$2.85.
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