Yanlord Land’s net profit drops 16% on-year in Q4

Mainboard-listed Chinese property developer Yanlord Land has booked a 16 per cent drop in fourth quarter net profit to S$118.4 million.

This came on the back of a 48 per cent fall in revenue to S$214 million.

Yanlord said the decline in fourth quarter revenue was due to a decrease in gross floor area delivered.

For all of 2009, net profit rose 44 per cent to S$325.3 million.

Yanlord is proposing a dividend of 1.68 cents per share.

Source : Channel NewsAsia – 25 Feb 2010

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