Property News · March 27, 2019

China Evergrande and China Vanke report profit gains and high debt ratios during 2018


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
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