Yanlord Land Group profit up 10.5% YoY to $867.77m for FY 2021

There was 2.5% increase in profit attributable to owners of the company.

Yanlord Land Group saw its profit increase by 10.5% to $867.77m (RMB 4.037b) for FY2021. 

This was due to the increase in gross profit and share of profit from joint ventures, with decreases in finance cost also playing a part as well. Offsets to this performance include decreases in other operating incomes, gains, and fair value gain on investment properties.

FY2021 also saw an increase in profit attributable to owners of the company by 2.5% YoY to $570.89m. 

Meanwhile, total assets owned by the Yanlord also echoed this performance with a 5.4% YoY jump to $33.2b (RMB 154.45b). Yanlord’s net gearing ratio saw a dip by 14.2 percentage points to 49% as of 31 December 2021, with cash and cash equivalents of Yanlord pushing upwards by 25.3% to $4.63b (RMB 21.55b).

Overall, the Group, along with its joint ventures and associates, contracted $12.81b (RMB 59.59b) worth of pre-sales at a contracted GFA of 1,868,568 sqm. Property contracted pre-sales under the Yanlord's project management business bearing the “Yanlord” brand name, reached a contracted GFA of 376,623 sqm at $3.4b (RMB 18.13b).

The property investment and hotel operations income Yanlord increased by 14.7% YoY. to $280.77m (RMB 1.31b). Increases in this sector were mainly attributed to hotel operations in Sanya and Zhuhai, as well as the completion of refurbishment works and the opening of Yanlord Riverside Plaza in Tianjin. Singapore properties held by the Group also saw a 90% occupancy rate, with serviced apartments at Park Avenue Clemenceau and Park Avenue Robertson hovering above 85%.