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Beijing Capital Development expects 22% surge in 2011 profit

Feb. 10, 2012 (China Knowledge) - Beijing Capital Development Co Ltd<600376>, a Beijing-based real estate developer, said yesterday that its net profit to grow about 22% year on year to RMB 1.65 billion in 2011.

In 2010, the developer's net profit was RMB 1.35 billion, and diluted earnings per share were RMB0.90

In the first three quarters of 2011, the company booked a net profit of RMB 330.81 billion, 68.85% less than in the same period of 2010.

Core business revenue plunged 52.84% year on year to RMB 2.10 billion in the first nine months.

The company earlier this year received approval from National Association of Financial Market Institutional Investors to raise RMB 5 billion via a private placement to start an indemnificatory housing project.

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