Aug. 25, 2011

HONG KONG -(MarketWatch)- Investment and property holding company Wheelock & Co. (0020.HK) said Thursday its net profit rose 56% in the first half, partly due to strong property sales.

The company, parent of property-to-ports conglomerate Wharf (Holding) Ltd. (0004.HK), said it had a net profit of HK$10.22 billion for the six months ended June 30, up from HK$6.53 billion a year earlier.

Revenue rose 9.9% to HK$13.76 billion from HK$12.52 billion.

Wheelock proposed a first-half dividend of HK$0.04 a share, higher than HK$0.025 the previous year.