Hong Kong developer Sino Land on Wednesday said its net profit for the financial year that ended on June 30 fell from a year earlier as strong residential sales were offset by lower rental income and falling occupancies.
After taking into account a one-time loss of HK$1.08 billion (US$138.7 million) from the revaluation of its investment properties, the developer said its net profit fell to HK$4.02 billion from HK$4.4 billion a year earlier.
Net income excluding one-off gains or losses fell…
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