STOCKS | Chevalier International Swings to HK$418 Million Profit, Raises Final Dividend

Chevalier International Holdings (0025) reported a swing to profit for the full year ended March 31, posting earnings of HK$418 million, according to Ming Pao. The company said the turnaround was supported by higher contributions from its construction and mechanical engineering businesses, gains from the disposal of properties in Canada and the U.S., a sharp reduction in net fair value losses on investments measured at fair value through profit or loss, and lower provisions for properties under development and for properties held for sale measured at net realizable value. Chevalier International proposed a final dividend of HK$0.22 per share, up 1.75 times from a year earlier.