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Henderson Land Falls After Missing Estimates: Hong Kong Mover

Henderson Land Development Co., controlled by billionaire Lee Shau-kee, fell to a two-week low in Hong Kong trading after 2011 underlying profit missed analysts’ estimates as the property market cooled.

Henderson Land dropped 0.8 percent to HK$45.70 at the close of trading, the lowest since March 9, cutting its gain this year to 18 percent. Profit excluding property revaluation gains and deferred taxes rose 10 percent to HK$5.6 billion ($721 million) in the 12 months ended Dec. 31, missing the HK$6.1 billion median estimate of five analysts surveyed by Bloomberg News.