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China Merchants Property's profit up 94.5% in Q3

Oct. 18, 2012 (China Knowledge) - China Merchants Property Development Co Ltd<000024><200024>, a real estate subsidiary of Hong Kong-based China Merchants Group, has announced its net profit for the third quarter of this year grow 94.53% YoY to RMB 1.2 billion.

Basic earnings per share for the three-month period were RMB 0.7.

From July to September 2012, the real estate developer saw its operation revenue reach RMB 6.07 billion, reflecting a YoY increase of 38.45%.

In the first nine months of this year, China Merchants Property Development realized a total of RMB 16.15 billion in operation revenue, 29.45% more than in the same period of last year.

Meanwhile, its net profit attributable to shareholders increased 16.03% YoY to RMB 2.42 billion during the nine-month period.

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