Sun Hung Kai Properties H1 underlying profit falls 1.9 pct, beats estimates

HONG KONG Thu Feb 28, 2013 3:29am EST

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HONG KONG Feb 28 (Reuters) - Sun Hung Kai Properties Ltd , the world's second-largest property company by market value, posted an underlying profit of HK$11.5 billion ($1.5 billion) for the fiscal first half, beating analysts' estimates.

A Reuters poll of four analysts had forecast an underlying profit of HK$10.64 billion for the fiscal first half ended December.

The results were 1.9 percent lower compared to a year earlier, when the company booked an underlying profit of HK$11.8 billion.

Sun Hung Kai, whose billionaire co-chairmen are facing charges in an alleged bribery case in Hong Kong, reported its best ever underlying profit of HK$21.7 billion for the 2012 fiscal year that ended in June. (Reporting by Yimou Lee; Editing by Jeremy Laurence)

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