HONG KONG—Hongkong and Shanghai Hotels Ltd., the operator of the luxury Peninsula hotel chain, said Wednesday its first-half net profit rose 31% from a year earlier due to property revaluation gains and a nascent recovery in its hotel business.
The Hong Kong-listed company, controlled by businessman Michael Kadoorie and his family, said its net profit for the six months ended June 30 rose to 605 million Hong Kong dollars (US$77.8 million) from HK$462 million.
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