HK Stock Market Move | MTR CORPORATION (00066) once surged over 4%, with net profit for the first half of the year increasing by 105.9% year-on-year, and property development profits reaching HKD 12.2 billion.

MTR CORPORATION (00066) once rose over 4%, and as of the time of writing, it was up 3.16%, trading at HKD 33.34, with a transaction value of HKD 242 million. In news, MTR CORPORATION announced that it achieved a revenue of HKD 26.231 billion in the first half of this year, a decrease of 3.1% year-on-year; the net profit attributable to shareholders was HKD 15.872 billion, an increase of 105.9% year-on-year. The significant profit increase was mainly driven by profits from property development in Hong Kong amounting to HKD 12.233 billion, primarily from the Tai Wai Station and the fifth phase of the South Island project; there is a plan to declare an interim dividend of HKD 0.42 per share. For the period, recurring business profit saw a slight increase, reaching HKD 3.434 billion, compared to HKD 3.391 billion in the same period last year, mainly due to increased contributions from the mainland China and international businesses. However, the depreciation of Hong Kong operations and the increase in annual non-fixed payments offset some of the gains.