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Shanghai Lujiazui's net profit double in Q1

Apr. 18, 2012 (China Knowledge) – Shanghai Lujiazui Finance & Trade Zone<600663><900932>, a real estate developer based in Lujiazui, Shanghai, yesterday announced that its net profit attributed to shareholders skyrocketed 212.69% year on year to RMB 152 million in the first quarter of this year.

The company said that, the huge growth in net profit is mainly due to its strong property sales in the quarter.

In a statement filed with Shanghai Stock Exchange, the developer saw its operation revenue surged 75.3% year on year to RMB 552 million in the first three month of 2012.

Basic earnings per share were RMB 0.08 at the three-month period.

Last year, Shanghai Lujiazui booked a net profit of RMB 1.25 billion, fell 15.98% than a year earlier. However, its operation revenue for 2011 jumped 51.29% year on year to RMB 4.17 billion, sources reported.

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