Henderson Land 2011 Underlying Profit Rises 10% on Rental Income
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Henderson Land Development Co., the Hong Kong builder controlled by billionaire Lee Shau-kee, said 2011 underlying profit rose 10 percent on higher rental income and contributions from unit Hong Kong & China Gas Co.
Profit excluding property revaluation gains and deferred taxes rose to HK$5.6 billion ($721 million), or HK$2.41 a share, in the 12 months ended Dec. 31, from HK$5.04 billion, or HK$2.33, the company said in a statement to the Hong Kong stock exchange today. That compares with a median HK$6.1 billion estimate of five analysts surveyed by Bloomberg News.