Hainan Haide Industry sees net profit down 87.61% in H1 of 2011
Hainan Haide Industry (000567), a Haikou-based realestate developer, reported that its net profit fell 87.61-percent year-on-year to 2.10 million yuan in first half of 2011, with earnings per share of 0.0139, reports p5w.net, citing a company filing. Revenue fell 81.78 percent year-on-year to 9.92 million yuan.
Haide Industry’s salable properties fell during the reporting period, lowering revenues. All properties in its Haikou Yaojiang Garden development were sold in the first half of 2011.
Haide Industry predicted that it may lose 1.09 million yuan or earn 920,000 yuan in first three quarters. Its net profit was 9.98 million yuan in the first three quarters last year.
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