Macau (MNA) – The unaudited net profit for Polytec Asset Holdings for the year ended June 30 2018 had increased more than 16 times to HK$648 million (US$83 million) from HK$48.6 million, according to the firm’s interim report released on Wednesday.
In the report released in the Hong Kong Stock exchange (HKEX), Polytec mentioned the Pearl Horizon buyers would be compensated, which woud not have ‘any adverse effect on the financial position of the group.’
The sale of units of property La Marina, which is situated in a prime location adjacent to the Hong Kong-Zhuhai-Macau Bridge (HZMB) has reportedly been well-received, according to the report.
However, rental income for Polytec had fallen by 3.5 per cent year-on-year to HK$41.1Â million due to a decrease of income from The Macau Square which is 50 per cent owned by the group.
The share of total rental income of the Macau Square fell by HK$1.5 million to
HK$38.1 million for the first half of 2018 when compared to the same period in 2017.
