SHUI On Land, developer of Shanghai Xintiandi, yesterday said profit rose more than one-fifth last year amid record turnover.

The earnings attributable to shareholders gained 22 percent to nearly 3.43 billion yuan (US$544 million) in 2011 as turnover soared 74 percent to a record 8.48 billion yuan, the Shanghai-headquartered company, the flagship property developer of the Shun On Group, said in a statement.

Source:shanghaidaily.com/