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Vanke's net up
Source: Xinhua |
April 20, 2011, Wednesday
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Print Edition
Print Edition
CHINA Vanke Co yesterday said its net profit rose an annual 6.97 percent in the first quarter on strong sales.
Net profit in the first three months totaled 1.21 billion yuan (US$185 million), the company said in a statement. The company sold 3.04 million square meters of housing in the first quarter, up 144.6 percent, which drove the sales value 135.3 percent higher from a year earlier to 35.51 billion yuan.
Vanke attributed its robust sales mainly to its focus on small- and medium-sized apartments, saying sales of homes measuring less than 144 square meters accounted for 87 percent of its total sales in the first quarter.
Net profit in the first three months totaled 1.21 billion yuan (US$185 million), the company said in a statement. The company sold 3.04 million square meters of housing in the first quarter, up 144.6 percent, which drove the sales value 135.3 percent higher from a year earlier to 35.51 billion yuan.
Vanke attributed its robust sales mainly to its focus on small- and medium-sized apartments, saying sales of homes measuring less than 144 square meters accounted for 87 percent of its total sales in the first quarter.
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