REALTY Development Corp (RDC) has reported an 8.43 per cent drop in after-tax profits to $358.1 million for the first half. Its earnings received a $149.4 million boost from the sale of properties. Turnover was down 56.19 per cent to $376.8 million. Earnings per share for its A shares dropped 8.52 per cent to 159.9 cents while earnings for B shares fell 8.57 per cent to 32 cents. An interim dividend of 30 cents per A share and six cents per B share was declared. RDC director Ray Tse said the company was preparing quality residential properties for timely release in the year ahead. ''We are continuing our carefully timed property development strategy with the planned release for sale shortly and into 1994 of various projects, including those owned through joint venture,'' he said. The strategy of replenishing its land bank by actively pursuing and maximising opportunities for property acquisition would be maintained, he said.
