Billionaire Lee Shau-kee said he has sold as much as 30% of his Hong Kong stock investments and is acquiring land. Lee’s Henderson Land Development Co. and partner New World Development Co. will pay HKD 9.6 billion for a building site, he said at a press briefing in Hong Kong on October 29. Henderson is also spending more than HKD 10 billion buying old buildings for redevelopment. The company added, “Further, the Group would continue to acquire in the market suitable sites in the urban areas of Hong Kong. Currently, numerous acquisitions are in progress, involving a number of old buildings which may be redeveloped. The estimated total amount of funds required for such acquisitions is about HKD 6,000,000,000.”

Henderson Land Development Co. Ltd. reported earnings results for the year ended June 30, 2009. For the period, the company's underlying profit attributable to equity shareholders dropped to HKD 3.5 billion, a decline of HKD 2.2 billion or 38% from HKD 5.71 billion a year earlier. Earnings per share based on the underlying profit were HKD 1.64, down from HKD 2.78 in fiscal year 2008. Including changes to the fair value of the firm's investment properties, profit attributable to equity shareholders plunged HKD 9.9 billion or 64% from HKD 15.47 billion in the previous fiscal year. The company realized HKD 4.91 billion in revenue from property sales, 56% less year on year. Net rental income increased 8% from a year earlier to HKD 2.94 billion.

Henderson Land Development Co. Ltd. announced earnings results for the year ended June 30, 2009. The company's fiscal-year net income plunged 64% to HKD 5.41 billion ($791.5 million), or HKD 2.58 a share, in the twelve months ended June 30, from HKD 15.47 billion, or HKD 7.54 a share, in the twelve month period a year earlier. The company attributed the drop to a decrease in turnover in its property development business resulting from weak sales. Total revenue fell 37% to HKD 8.46 billion from HKD 13.49 billion in the prior fiscal year. Revenue from property development fell 55% to HKD 4.08 billion. The company will move its fiscal year end to December from June. The company declared a second interim dividend of 30 cents a share.