Jan. 12, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668
>, China's largest property and construction conglomerate, said yesterday that it expected its net profit to jump about 40% year on year in 2011.
In 2010, the company booked a net profit of RMB 9.24 billion.
China State Construction said that its property sales surged 33.8% year on year to RMB 89.5 billion last year. The company sales area totaled 7.03 million square meters in 2011, up 7.9% year on year. It added 22.18 million sq m of land reserves during the reporting period.
firm signed almost RMB 851.4 billion worth of construction contracts in 2011, up 14.6% year on year. In the same period, the company started 181.23 million sq m of properties, up 12.5% year on year, and completed 60.08 million sq m of properties, up 3.2% from 2010.