Developer Shui On Land expects significant drop in 2012 profit

Hong Kong-listed property developer Shui On Land said on Monday it expects its full year 2012 profit to drop significantly due to fewer properties being delivered during the period. The developer said it remains positive on the long-term prospects for the market, while lock-in sales brought forward to 2013 would be about 6.4 billion yuan ($1.03 billion). It gave no further details.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1121865/developer-shui-land-expects-significant-drop-2012