YeaShin International Development Co (亞昕國際開發) yesterday said that it expects its earnings to improve in the next three years with NT$54 billion (US$1.94 billion) worth of projects on hand and sales rates of 70 percent.
The Taipei-based developer reported NT$230.59 million in net income in the first three quarters of the year, or earnings per share of NT$0.67, company data showed.
The results came after it reported net profit of NT$285.84 million in the first quarter, but incurred losses of NT$41.22 million and NT$14.03 million in the second and third quarter respectively as a level 3 COVID-19 alert dampened business.
However, buying interest and sales rates have picked up after locally transmitted infections diminished, it said.
YeaShin has NT$54 billion worth of projects that could generate stable income upon their completion in the next three years, it said, adding that the projects are in Taipei, New Taipei City, Taoyuan, Miaoli County and Taichung.
A project comprising 555 apartment units in Taoyuan has reached a sales rate of 70 percent following its launch early this month, the company said.
In addition, YeaShin has NT$28.53 billion in land and house inventory, enough for development for three years, it said.
Shares of YeaShin closed down 0.23 percent at NT$22.05 yesterday, better than the sector’s 0.51 percent decline, Taiwan Stock Exchange data showed.
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