News Column

Guangzhou R And F Properties H1 Profits down 37%

August 26, 2014

SHANGHAI, August 26, SinoCast -- Guangzhou R And F Properties posts that it gained a turnover of CNY 9.82 billion in the first half, down 4% year on year; its net profits rose from CNY 1.46 billion in the period last year to CNY 1.58 billion; its profits were down 37% to CNY 788 million, representing 50% of the net profits.

The company completed and delivered properties in 12 cities in the first half; areas available for sale sold in the period fell 16% from 972,900 square meters to 814,500 square meters, representing 23% of full-year target.

The company lowered full-year sales target from CNY 70 billion to CNY 60 billion.

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Source: Sinocast Construction & Real Estate Beat (China)

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