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Vanke's Q1 net profit climbs 16%
By Cao Qian |
April 24, 2012, Tuesday
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Print Edition
Print Edition
CHINA Vanke Co, the largest listed developer on the Chinese mainland by market value, yesterday said net income in the first quarter of this year rose nearly 16 percent on an annual basis due to its strategic focus on small to medium-sized apartments.
Profit rose to 1.4 billion yuan (US$222 million), or 0.13 yuan a share, between January and March, compared with 1.21 billion yuan, or 0.11 yuan a share, in the same period a year earlier, according to a filing with the Shenzhen Stock Exchange.
Revenue jumped 30 percent from a year earlier to 10.35 billion yuan.
Apartments of no larger than 144 square meters rose slightly to 90 percent of the total sold in the period, the developer said.
Profit rose to 1.4 billion yuan (US$222 million), or 0.13 yuan a share, between January and March, compared with 1.21 billion yuan, or 0.11 yuan a share, in the same period a year earlier, according to a filing with the Shenzhen Stock Exchange.
Revenue jumped 30 percent from a year earlier to 10.35 billion yuan.
Apartments of no larger than 144 square meters rose slightly to 90 percent of the total sold in the period, the developer said.
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