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Poly Real Estate expects 12.13% drop in H1 net profit

Jul. 10, 2012 (China Knowledge) - Poly Real Estate Group Co Ltd<600048>, a major property developer in China, announced yesterday that it expected its net profit to fall 12.13% YoY to RMB 2.46 billion in the first half of this year.

The developer said in a statement that earnings per share were estimated at RMB 0.34 in the period.

The company’s operating revenue was forecasted to surge 32.86% YoY to RMB 20.18 billion in the first six months.

Poly Real Estate saw its contractual sales grow 27.47% YoY to RMB 50.30 billion in the first half and its contractual sales area rise 28.43% to 4.38 million square meters in the period.

In June, the company’s contractual sales increased 36.65% YoY or 44.08% MoM to RMB 15.52 billion, and its sales area rose 33.61% YoY or 42.27% MoM to 1.30 million sq m.

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