Hong Kong’s MTR Corp profit more than doubles to HK$15.87 billion on property gains

Net profit at Hong Kong’s rail operator the MTR Corporation more than doubled to HK$15.87 billion (US$ 2 billion) in the first half of the year, from HK$7.70 billion a year earlier, as strong gains from property development offset largely flat performance in its rail and commercial operations. The partly privatised corporation reported a 120.7 per cent year-on-year increase in property-development profit to HK$12.23 billion, driven mainly by projects at Tai Wai Station and The Southside…