Country Garden's H1 performance exceeds market expectations, with underlying net profit up 35%

HONG KONG, Aug. 22, 2017 /CNW/ -- Country Garden Holdings Company Limited (stock code: 2007.HK) on August 22 disclosed its financial results for the first half of 2017. For the first half, Country Garden recorded contracted sales of RMB288.91 billion, an increase of 131% year on year. Contracted gross floor area increased 106.3%, to 32.26 million square meters. Both indicators are historical highs. During the reporting period, Country Garden achieved revenue of RMB77.74 billion, up 35.5% year on year. Gross profit was RMB17.1 billion, up 42.1%. Underlying net profit attributable to shareholders climbed to RMB7.19 billion, an increase of 34.9% year on year.

Based on the strong performance, the company declared an interim dividend of RMB15.02 cents, significantly up 117.1% from a year earlier. At the end of the first half, Country Garden had a cash balance of RMB120.13 billion, increasing 143% from a year earlier, while operating cash flow remained positive at approximately RMB16.42 billion yuan. As at the end of the reporting period, net gearing ratio decreased 10.9 percentage points, to 37.8%. The weighted average borrowing cost fell by 34 basis points from the end of 2016, to 5.32%.

View original content:http://www.prnewswire.com/news-releases/country-gardens-h1-performance-exceeds-market-expectations-with-underlying-net-profit-up-35-300508266.html

SOURCE Country Garden Holdings

For further information: Huang Dou, +86-139-2666-9275, huangdou@countrygarden.com.cn

Organization Profile

Country Garden Holdings

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890