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Henderson Land's 2011 net profit up 9%

Mar. 22, 2012 (China Knowledge) - Henderson Land Development Co Ltd<0012>, a Hong Kong-based property developer, announced yesterday that its net profit climbed 9% year on year to HK$17.18 billion last year, boosted by higher property sales and strong rental growth.

The company's underlying profit rose 10% from the previous year to HK$5.56 billion.

Henderson Land Development saw its revenue more than double to HK$15.19 billion in 2011 from HK$7.09 billion in 2010.

Profit from property sales in Hong Kong and mainland China nearly quadrupled to HK$2.08 billion in 2011, citing to more active project launches in the period. The developer saw its net rental income from property leasing operations in Hong Kong and the mainland jump 25% year on year to HK$4.17 billion.

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