{"id":107209,"date":"2019-05-17T12:45:26","date_gmt":"2019-05-17T05:45:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-land-remains-bullish-despite-dismal-q1-results\/"},"modified":"2019-05-17T13:06:05","modified_gmt":"2019-05-17T06:06:05","slug":"yanlord-land-remains-bullish-despite-dismal-q1-results","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-land-remains-bullish-despite-dismal-q1-results\/","title":{"rendered":"Yanlord Land remains bullish despite dismal Q1 results"},"content":{"rendered":"


\nOCBC Investment Research still expects to see an \u201cimprovement for the rest of the financial year\u201d, despite a fall in gross revenue and profit.\u00a0
\nYanlord Land Group had a disappointing start as gross revenue and gross profit fell 49.6 percent and 61.4 percent year-on-year in the first quarter of 2019 to RMB3.6 billion (S$716 million) and RMB1.5 billion (S$298 million) respectively, revealed OCBC Investment Research.
\nThis comes as gross floor area (GFA) delivered fell 18 percent while average sales price declined 44.4 percent.
\n\u201cThe lower average selling price was partly due to a change in product mix, as Q1 2019 included a significant amount of GFA delivered for its Shanghai Yanlord on the Park project, which commands average selling prices of close to RMB100,000 (S$19,896) per sq m,\u201d noted OCBC Investment Research analyst Andy Wong Teck Ching.
\nWith this, Yanlord\u2019s profit after tax and minority interest (PATMI) dropped 59.5 percent to RMB323.1 million (S$64.3 million), which \u201cconstituted 9.6 percent and 10.1 percent of ours and Bloomberg consensus\u2019 full-year forecasts, respectively\u201d, he added.
\nBut as buying momentum picked up in March and April for the company, OCBC Investment Research expects to see an \u201cimprovement for the rest of the financial year\u201d.
\nAs of 31 March, Yanlord has RMB11.8 billion (S$2.3 billion) of accumulated pre-sales that are still pending recognition, of which about 90 percent is expected to be recognised this year.
\nPre-sales for the first four months of the year was RMB8.4 billion (S$1.7 billion), of which RMB3.4 billion (S$676.5 million) was posted in March and RMB3.2 billion (S$636.7 million) in April.
\n\u201cAs it has more launches lined-up in June and July, including projects in Shenzhen and Zhuhai which are expected to fetch healthy average selling prices, management reiterated its RMB40 billion contracted sales target for 2019,\u201d said OCBC Investment Research.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Yanlord Land remains bullish despite dismal Q1 results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OCBC Investment Research still expects to see an \u201cimprovement for the rest of the financial...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107209","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rTb","jetpack-related-posts":[{"id":60606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-perennial-to-make-united-engineers-offer\/","url_meta":{"origin":107209,"position":0},"title":"Yanlord, Perennial to make United Engineers offer","date":"July 13, 2017","format":false,"excerpt":"\r United Engineers owns a large portfolio of properties including shopping centres, hotels and condominiums. (Photo: Wikimedia Commons) After securing clarifications on the procedures for making a simultaneous bid for two companies from Singapore\u2019s takeover council, a consortium including China-based developer Yanlord Land Group and Perennial Real Estate Holdings is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sumang-walk-ec-site-attracts-17-bids\/","url_meta":{"origin":107209,"position":1},"title":"Sumang Walk EC site attracts 17 bids","date":"February 27, 2018","format":false,"excerpt":"\r Map showing the location of the EC site at Sumang Walk. Source: HDB The tender exercise for an executive condominium (EC) site at Sumang Walk in Punggol closed on Tuesday (27 Feb) after attracting 17 bids, said the Housing and Development Board (HDB). The top bid of $509.37 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/unsold-residential-inventory-rises-above-long-term-average\/","url_meta":{"origin":107209,"position":2},"title":"Unsold Residential Inventory Rises Above Long-Term Average","date":"July 3, 2019","format":false,"excerpt":"\r Unsold residential inventory in Singapore has continued to increase, hitting 37,800 units (including executive condominiums) by the end of the first quarter of 2019, reported Singapore Business Review citing OCBC Investment Research. The figure is way above the long-term historical average of 32,400 units registered since Q1 2007. And\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":107209,"position":3},"title":"La Ville condo relaunched with lower asking price of $140.6m","date":"October 10, 2018","format":false,"excerpt":"\r La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr, or $1,361 psf ppr after taking into account the 10 percent bonus balcony space. A development charge of about $7.2 million is payable as well. Marketing agent JLL revealed on Tuesday (9 Oct) that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47407,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/200-units-sold-at-the-clement-canopy\/","url_meta":{"origin":107209,"position":4},"title":"200 units sold at The Clement Canopy","date":"March 10, 2017","format":false,"excerpt":"\r Prospective buyers at The Clement Canopy showflat in Clementi. (Photo: UOL Group) The Clement Canopy condominium recorded robust sales during its recent launch, with 200 units sold out of the 350 units released, reported Singapore Business Review, citing OCBC Investment Research. 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