HONG KONG: Developer Cheung Kong (Holdings) reported a 29% jump in 2006 net profit, in line with forecasts, thanks to high-margin property projects and stronger earnings at associate firm Hutchison Whampoa Ltd.
At a time when many developers in Hong Kong are struggling to sell their apartments, Cheung Kong has sold almost all its Metro Town project and 70% of its The Legend project, spurring earnings for 2006 and 2007.
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