Salomon expects Henderson Land interim net profit lower 37% at HK$2.8 bln

Salomon Smith Barney expected Henderson Land (0012) 00/01 interim net profit through last Dec to be HK$2.798 bln, down 37%, with profit per share HK$1.63.Salomon said the main reason for the net profit reduction of Henderson Land was houses sales decliningSalomon indicated Henderson Land had more units in stock than Sun Hung Kai (0016), so the profit could reflect the performance of house selling in this period. However, there will be the opposite effect if lower-than-expected should be reported.Salomon maintained the rating ˇ§lag the marketˇ¨ on Henderson.

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