Profit may drop

January 3, 2009, Saturday |

Print Edition

GREENTOWN China Holdings Ltd, the largest real estate developer in Zhejiang Province, said its consolidated net profit for last year may drop from a year earlier. The company blamed the anticipated decrease on delays in the construction of seven property projects, the "adverse effect" on sales from a slowdown in China's property market, and an increase in finance charges due to higher bank borrowings, according to a statement filed to the Hong Kong stock exchange yesterday. The developer said it can't yet quantify the expected decline in profit. Greentown said in April its 2007 net profit dropped 27 percent to 923 million yuan (US$135 million), or 0.61 yuan a share, after it completed fewer apartment projects and interest costs rose.

Real Estate

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Profit may drop

Email this to your friend