Company Briefs: Yanlord Land Group

Yanlord Land Group chairman and CEO Zhong Sheng Jian.
Yanlord Land Group chairman and CEO Zhong Sheng Jian.PHOTO: THE BUSINESS TIMES

Yanlord Land Group

China developer Yanlord Land Group has chalked up an 89 per cent rise in second- quarter net profit to 323.9 million yuan ($65.6 million).

Revenue for the three months to June 30 more than trebled to 7.4 billion yuan from 2.34 billion yuan.

For the first six months, net profit soared by 213 per cent to 584.1 million yuan on the back of a 206 per cent rise in revenue to 10.26 billion yuan.

The increases in revenue for the periods under review were primarily due to a considerable increase in gross floor area delivered to customers and an increase in average selling price on a per sq m basis compared with the same periods last year.

Sinarmas Land

Indonesia developer Sinarmas Land said its second-quarter net profit rose by 44 per cent to $35.3 million despite revenue falling 4.4 per cent to $222.8 million.

Earnings per share firmed to 0.83 cent from 0.8 cent previously, while net asset value per share was unchanged at 41 cents.

But for the half-year ended June 30, the group reported a 51.1 per cent drop in earnings to $51 million.

Turnover fell by 22.3 per cent to $402.7 million, mainly due to lower sales of land for commercial and industrial purposes in Indonesia and a lower number of residential units handed over to buyers in BSD City.

UOB-Kay Hian Holdings

Stockbroker UOB-Kay Hian Holdings has reported a 31.9 per cent drop in second-quarter earnings to $16 million.

Revenue for the three months to June 30 fell by 17.8 per cent to $89 million.

The stockbroker noted that trading volumes in major regional markets in which it operated were much lower compared with "an active corresponding period".

Commission rose by 6.3 per cent to $10.7million as a result of converting employee-dealers to remisiers.

Earnings per share shrank to 2.07 cents from 3.12 cents previously, while net asset value per share eased to 165.88 cents, compared with 169.69 cents as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on August 12, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe