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Vanke property's profit up 124% in Q3

Oct. 24, 2012 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest listed residential property developer by market value, has said its net profit for the third quarter of this year surge 124% YoY to RMB 1.36 billion.

According to a statement filed with Shenzhen Stock Exchange, basic earnings per share for the period were RMB 0.12.

In the third quarter of this year, China Vanke's operation revenue grew 65.3% from a year earlier to RMB 15.41 billion.

The Chinese real estate developer saw its operation revenue for the first nine months of this year totaled RMB 46.13 billion, reflecting a YoY increase of 57.39%, while its net profit for the period grew 41.47% YoY to RMB 5.08 billion.

From January to September, China Vanke's property sales hit RMB 96.32 billion, while its sales area for the nine-month period reached 9.08 million sq m, 7.9% more than in the corresponding period of last year.

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