Hang Lung Properties is expected by analysts to report tomorrow a 70% dive in half-year underlying profit because of tumbling sales.
Nomura International (Hong Kong) and Credit Suisse estimated the developer-landlord's core profit at HK$1.13bn to HK$1.16bn for the six months to December.
Their estimates, excluding revaluation changes for investment properties, were 70% lower than HK$3.77bn a year ago.
'The drop was mainly because of a substantial decline in property sales, with only six units at Aqua Marine sold in the first half of the year,' said Paul Louie, the regional head of property research at Nomura.
South China Morning Post