Sino Land profit drops 30% to $2.2m

Despite the decrease, the company maintained its interim dividend at 15 cents per share.

Sino Land Company Limited reported a decrease in profit to $2.2m for the six months ending 31 December 2024 from $2.9m in the same period last year.

Despite the decrease, the company maintained its interim dividend at 15 cents per share.

The company’s total revenue for the period stood at $3.8m, marking a 21.7% decline from $4.9m in 2023.

Meanwhile, profit attributable to shareholders dropped 30.4% year-on-year, to $1.8m from $2.6m.

In terms of property sales, the Group recorded $2.4m in attributable revenue, a sharp drop from $6.6m million in 2023.

Attributable gross rental revenue stood at $1.7m, slightly lower than $1.7m in 2023. 

Residential occupancy rates improved to 89% (from 87.9% in 2023), whilst industrial occupancy rose to 89.7% (from 89.5%). However, a 1.6% decline in rental revenue was noted, reflecting emerging challenges in the retail sector.