Continental Holdings Corp (CHC, 欣陸投控) yesterday said property sales now take longer as buyers have turned cautious amid monetary tightening and economic uncertainty.
The conglomerate made the comment after reporting record-high net profit of NT$2.18 billion (US$72.69 million) for the first half of this year, up 171 percent from the same period last year.
The results translated into earnings per share of NT$2.65, also a new high for the same period, CHC said.
Consolidated revenue totaled NT$18.26 billion in the first six months, up from NT$11.94 billion a year earlier, while gross margin improved by 3.53 percentage points to 18.18 percent, it said.
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Taiwan’s major developers remain positive about their business prospects this year, even though an ongoing COVID-19 outbreak and unfavorable policy measures are dampening buying interest.
Continental Development Corp (CDC, 大陸建設), the property development arm of Continental Holdings Corp (欣陸投控), on Wednesday said that it is planning to go ahead with development projects and land hunting, as it is seeking to support earnings in the next few years.
“The ongoing virus outbreak will be another temporary damper on the housing market,” CDC chief executive officer Liao Tsung-sen (廖淳森) told a news conference in Taipei.
However, the situation would improve once the COVID-19 situation stabilizes,