HAECO Group posts profit of HK$1,111m for first six months 2016

The HAECO Group reported an attributable profit of HK$1,111m for the first six months of 2016, which included a gain of HK$805m on disposal of the interest of Hong Kong Aero Engine Services (HAESL) in Singapore Aero Engine Services (SAESL). This compares with a profit of HK$254m for the equivalent period in 2015. Earnings per share increased by 337.4% to HK$6.68. Revenue increased by 23.9% to HK$7,103m.
Review of operations: HAECO Hong Kong reported profit of HK$82m, compared to HK$99m in the first half of 2015, down 17.2%. HAECO Americas reported a loss of HK$59m similar to the loss it made in 2015. HAECO Xiamen reported profit of HK$47m, compared to HK$46m up +2.2%. TEXL reported profit of HK$103m, compared to HK$52m the previous year, up 98.1%.