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SouFun's profit over double in Q1

May. 16, 2012 (China Knowledge) – SouFun Holdings Ltd, the operator of a real estate Internet portal in China, posted US$14.5 million or RMB 91.42 million in net profit attributable to shareholders in the first quarter of this year, skyrocketed 152.9% year-on-year.

Non-GAAP net profit attributable to shareholders amounted to US$14.2 million, 83.3% more than that of the same period of 2011.

The company saw its total revenue for the first three month of this year reached US$58.5 million, reflecting a year-on-year increase of 43.4%, which includes US$34.3 million from its marketing services and US$10.9 million from its listing services.

The revenue from SouFun's E-commerce service totaled US$12 million at the three-month period, and it was just US$100,000 in the same period of 2011.

As of Mar. 31, 2011, SouFun had US$140.4 million in cash and short-term investments compare to US$158.3 million at the end of last year.

Soufun aims to reach between US$380 million and US$400 million in total revenue for fiscal year 2012.

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