Daily News and Transactions across Greater China from Knight Frank
China Vanke profit rises 25% as price cuts boost sales
Aug 08, 2012
China Vanke Co (000002.SZ), the biggest developer by market value traded on the nation's exchanges, said its first-half profit climbed 25%as the company cut prices to boost sales amid government controls.
Net income increased to RMB3.73 billion, or RMB0.34 a share, from RMB2.98 billion, or RMB0.27 a share, a year earlier. Revenue gained 54% to RMB30.72 billion.
An analyst says big companies such as Vanke tend to do better in downturns because they're better at marketing. The general outlook for the property market is still tightening with some room for fine-tuning of policies.
Knight Frank Greater China Property Market News Summary