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Henderson Land Earnings Rise 26% on China Property Sales

Henderson Land Development Co., the Hong Kong builder controlled by billionaire Lee Shau-kee, said full-year earnings climbed 26 percent, helped by an increase in property sales in mainland China.

Underlying profit, which excludes revaluation gains and deferred taxes, rose to HK$8.94 billion ($1.15 billion), or HK$3.35 a share, last year, from HK$7.09 billion, or HK$2.70, in 2012, the company said in a stock exchange filing yesterday. That compares with the HK$7.9 billion average estimate of 18 analysts surveyed by Bloomberg News.