Hongkong Land FY2012 profit falls 73%
Hongkong Land Holdings on Thursday reported net profit attributable to shareholders of US$1.44 billion for the fiscal year ended Dec 31, 2012. Net profit fell 73 per cent from US$5.31 billion a year ago, on a 9 per cent decline in revenue to US$1.11 billion from US$1.22 billion a year earlier. However, underlying net profit rose 11 per cent year on year to US$777 million from US$703 million a year ago. The group uses underlying net profit to distinguish between ongoing business performance and non-trading items. Earnings per share for the year were 61.36 US cents compared to 228.48 US cents in FY2011. (Source: Business Times)
Source: CIMB Daybreak - 08 March 2013
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