Shui On Land books 1.9b yuan income

Commercial developer Shui On Land (0272), a leading player in Shanghai, said net profit for the year ended December 31, 2019, increased by 1 percent from the year before to 1.93 billion yuan, from 1.90 billion yuan.

Revenue was 10.39 billion yuan.

Stable profitability was underpinned by rental and related income growth of 12 percent to 2.25 billion yuan, the company reported.

Total rental and related income, increased by 17 percent to 2.57 billion yuan.

A final dividend of HK 0.084 per share was declared, which together with the interim dividend of HK 0.036 per share brings the total dividend for the year to HK 0.12 per share

Contracted sales were 12.5 billion yuan. This includes the launch of Shanghai Rui Hong Xin Cheng Parkview (lot 1) for pre-sale in late December 2019, which recorded about 4.1 billion yuan of contracted sales in 2019.