Henderson Land Development is forecast to report sharply higher interim profit today, while Sino Land is expected to announce a fall. Analysts estimated net profit of $4 billion to $4.8 billion for Henderson for the six-month period to December 31, up more than four-fold from a year earlier. But they said Sino Land's profit in the period would be between $390 million and $700 million, down from $1.04 billion a year earlier. Henderson's earnings were bolstered by more property sales and finishing projects during the first half-year, while Sino Land suffered a decrease in returns, analysts said. DBS Securities property analyst Winnie Chiu said that Henderson would see its net profit increase by 349 per cent to $4 billion for the six months to December, compared with $889.37 million previously. She said the dramatic increase was because a number of its developments were completed during the first half year. Contributing projects include Metro City phases two and three in Tseung Kwan O and Parkland Villas in Tuen Mun. Another analyst projected Henderson's first-half earnings to be about $4.8 billion, boosted by gains from sale of shares in China Telecom. He expected profit from property sales amounted to $4.6 billion while the balance would come from an estimated $430 million gain from selling the shares. Analysts forecast Henderson's full-year profit to be between $5.6 billion and $7.4 billion. Eric Yuen, analyst at Dao Heng Securities, estimated Sino's interim profit at $580 million, down 45 per cent. He said the company had fewer new properties for sale in the period and depended more on selling remaining flats. Mr Yuen said Sino could record a $1.3 billion profit for the full year, 8 per cent down from the previous year. Donaldson, Lufkin & Jenrette analyst Derek Cheung estimated a half-year profit of $551 million for Sino Land. He said he expected the company would face an earnings gap for the next two years due to negative earnings from Island Resort in Siu Sai Wan and other high-cost projects.