Real Estate: Developer income down
(Shanghai Daily)
Updated: 2006-08-09 14:07 Shanghai Forte Land Co,
China's largest developer listed in Hong Kong by market value, said first-half
net income fell 16 percent because the profit a year earlier was boosted by a
one-time gain.
Net income slipped to 282 million yuan (US$35.4 million), or 0.116 yuan a
share, from 336 million yuan, or 0.146 yuan, the Shanghai-based company said in
a Hong Kong stock exchange statement. Sales rose to 974 million yuan from 608
million yuan.
Stripping away one-time effects, profit more than doubled
to 271 million yuan from 120 million yuan, the statement said.
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