During the period under review, 1,700 completed units and pre-sale units were sold, including about 1,000 attributable to the company. Proceeds from sales, including about 600 uncompleted flats mainly in Grand Promenade in Sai Wan Ho, amounted to about $4.8 billion.

The development land bank attributable to the group amounted to about 19 million sqft. The group also held agricultural land lots of about 22.5 million sqft.

Henderson's land bank has also been expanded through the acquisition of an 84,000 sqft residential and retail site in Lai Chi Kok and a 34,000 sqft housing site in Canton Road.

Henderson has been increasing its land replenishment, buying four million sqft of farm sites with the aim of converting these into development sites.

Henderson said it had focused on making applications for the land use conversion of its agricultural sites, and continuing talks with the government to buy property development sites at low cost. It said it had reached agreements with the government for two more sites - one in Prince Edward Road East and one in San Po Kong.

The company is also preparing to develop a 1 million sqft office-retail complex in Kwun Tong.

Subsidiary Henderson Investment saw a 4.55 per cent rise to $867.85 million in net profit for the six months to December, compared with $830.06 million for the same period in 2003.