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Guangzhou R&F Properties' sales up 25% in Mar

Apr. 5, 2012 (China Knowledge) - Guangzhou R&F Properties Co Ltd<2777>, a real estate developer based in Guangzhou and Foshan of Guangdong Province, yesterday announced that its contracted sales surged 25% from a month earlier to RMB 3 billion in March.

Of the total sales, RMB 707 million was derived from property sales in Guangzhou and about RMB 1 billion in Beijing.

Last month, the Hong Kong-listed firm's contracted sales area increased by 3% month on month to 232,000 square meters.

In the first three months of 2012, the company sold 544,500 square meters of properties for a total of RMB 6.63 billion in contracted sales, sources reported.

Last year, Guangzhou R&F Properties' net profit increased by 8.5% year on year to RMB 4.84 billion, and the firm's operating revenue totaled RMB 27.4 billion, reflecting a year-on-year increase of 11%.

Chairman Li Sze Lim said the company will be more cautious with land purchases this year.






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