Yanlord Land's Q2 net profit dives 99 per cent on lower sales, absence of one-off gains
Yanlord Land Group's second quarter net profit dived 99 per cent to 6.4 million yuan (S$1.3 million).
Revenue fell 49 per cent to 1.38 billion yuan for the three months to June 30.
The fall was mainly attributable to a decrease in gross floor area delivered during the quarter.
Gross profit margin decreased to 31.6 per cent from 34.9 per cent previously, mainly due to the change in composition mix of the properties delivered.