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China Housing & Land Development Co. Profits, Sales Down as Beijing Continues to Stifle Speculation

Real Estate Channel
Thursday, 24 May 2012

China Housing & Land Development Co. Profits, Sales Down as Beijing Continues to Stifle SpeculationDon't feel too sorry for China Housing & Land Development Co. (NASDAQ: CHLN). Its first-quarter profit is down. But after deducting all expenses and taxes, the Xi'an-based, 20-year-old public company still posted a 90-day net profit of $2.2 million or six cents per basic share. This performance compares to a net income of $2.5 million in the fourth quarter of 2011, and 2.8 million in the first quarter of 2011.
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