Salomon expects Wharf 2000 annual profit down 38% to HK$2.1 bln

Salomon Smith Barney expected the 2000 annual profit of Wharf(0004) to be HK$2.1 bln with HK$0.85 earnings per share. But Salomon said the profit of I-Cable Communications(1097) , which had just released , was higher than market expectation and thus it could be helpful to Wharf.Salomon predicted that the 2000 annual profit of Wharf would drop 38% compared with 1999. Itˇ¦s mainly because the company got HK$1 bln special profit from spinning off I-Cable in 1999. Salomon also predicted that Wharf neednˇ¦t make provision for property business and lawsuit.And Salomon maintained the rating of ˇ§neutralˇ¨ on Wharf.

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