CITIC Limited (0267) said net profit for the first half this year dropped by 19.4 percent from a year ago to HK$27.01 billion. Net profit from its financial business dropped by 14 percent year-on-year to HK$21.9 billion. Total net profit included a gain of HK$2.4 billion from the sale of the 22 percent stake in the McDonald’s business in mainland China and Hong Kong, said the company. Revenue fell by 7.71 percent from a year ago to HK$255.8 billion, while the net interest income grew by 1.14 percent to HK$73.09 billion. The consolidated debt of CITIC was HK$952.58 billion as of end-June, including loans of HK$151.76 billion and debt instruments issued of HK$800.82 billion.

Source: The Standard August 28, 2020 05:03 UTC