Mainland property developers China Vanke and China Evergrande Group reported upbeat profit results for 2018, along with higher debt levels.Evergrande, chaired by billionaire Hui Ka-yan, saw core profit jump 93.3 per cent to 78.32 billion yuan (US$11.88 billion) for the year, up 93.3 per cent on year, while revenue was 466.2 billion yuan, a rise of 49.9 per cent.Contracted sales came to 551.34 billion yuan, up 10.1 per cent on year. For 2019 the company expects sales of 600 billion yuan.The…
Source : South China Morning Post
Read more…China Evergrande and China Vanke report profit gains and high debt ratios during 2018















