Home » Business » Real Estate
Vanke's net profit rises 32% in 2011
Source: Bloomberg News |
March 13, 2012, Tuesday
|
Print Edition
Print Edition
CHINA Vanke Co, the biggest developer by market value traded in China, yesterday said 2011 profit rose 32 percent as it sold more small and medium-sized homes that are less influenced by government curbs.
Net income rose to 9.62 billion yuan (US$1.5 billion), or 0.88 yuan a share, from 7.3 billion yuan, or 0.66 yuan, in 2010, Vanke said. The developer would report net income of 9.53 billion yuan, according to the average of 20 analysts' estimates compiled by Bloomberg News.
"Vanke is targeting the mass market, which helped sales," said Jinsong Du, a Hong Kong-based property analyst at Credit Suisse Group AG. "Starting from the second half of last year, China's high-end property market slumped greatly. Also, in a bad market like this, brand name stands out. Buyers tended to buy homes with good and big brand names like Vanke."
Government measures, including raising mortgage and down-payment requirements and imposing home purchase limits in about 40 cities, have curbed speculation, while intending to maintain real demand from homeowners.
Net income rose to 9.62 billion yuan (US$1.5 billion), or 0.88 yuan a share, from 7.3 billion yuan, or 0.66 yuan, in 2010, Vanke said. The developer would report net income of 9.53 billion yuan, according to the average of 20 analysts' estimates compiled by Bloomberg News.
"Vanke is targeting the mass market, which helped sales," said Jinsong Du, a Hong Kong-based property analyst at Credit Suisse Group AG. "Starting from the second half of last year, China's high-end property market slumped greatly. Also, in a bad market like this, brand name stands out. Buyers tended to buy homes with good and big brand names like Vanke."
Government measures, including raising mortgage and down-payment requirements and imposing home purchase limits in about 40 cities, have curbed speculation, while intending to maintain real demand from homeowners.
- 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
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
