Corporate digest

Yanlord Land Group

REAL estate developer Yanlord Land Group recorded a 61.3 per cent increase in its third quarter profit, on the back of significantly more gross floor area sold and higher average selling price per square metre.

Net profit was 1.01 billion yuan (S$201 million) for the three months ending September, up from 627.5 million yuan in the corresponding period a year ago. Earnings per share rose from 32.41 fen to 52.41 fen.

Revenue was 5.71 billion yuan, or 52 per cent higher than the 3.76 billion yuan posted a year ago.

For the nine months ending in September, net profit jumped 62.4 per cent year-on-year from 2.02 billion yuan to 3.29 billion yuan.

Net asset value as at Sept 30 stood at 12.81 yuan cents, up from 11.77 yuan cents …