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Financial Street's net profit up 13% in 2011

Apr. 9, 2012 (China Knowledge) – Financial Street Holdings Co Ltd<000402>, which is principally engaged in the real estate development on Beijing Financial Street, realized RMB 2.02 billion in net profit last year, 13% more than in 2010, source reported.

Basic earnings per share were RMB 0.67 in 2011, and the developer proposed a dividend of RMB 1 per ten shares for last year.

In 2011, the company's operation revenue grew 18.83% year on year to RMB 9.64 billion.

The developer said that it plans to invest about RMB 20 billion in new projects this year.

In the fourth quarter of 2011, Financial Street realized RMB 2.33 billion in operation revenue, down 52% year on year. The net profit decline by 82% year on year to RMB 206 million,

As of Dec. 31, 2011, the company had RMB 59.72 billion in net asset with debt/asset ratio of 69.03%.

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