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Guangzhou R&F Properties' sales up 101% in Oct

Nov. 2, 2012 (China Knowledge) - Guangzhou R&F Properties Co Ltd<2777>, a real estate developer based in Guangzhou and Foshan of Guangdong Province, has said its contractual sales surge 101% YoY or 85% MoM to RMB 4.12 billion in October this year.

The developer sold 453,100 square meters of properties last month, 172% more than in the same month of last year.

In the first ten months of this year, the company's contractual sales amounted to RMB 26.45 billion, up 13% YoY. Sales area jumped 51% to 2.37 million sq m in the period.

The company earlier said that its operation revenue for the first half of this year plunge 23% YoY to RMB 8.44 billion, while its net profit for the six-month period decreased 35% YoY to RMB 1.3 billion.

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