BRIEF-Shenzhen Properties sees Q1 profit down 87.3 pct as a key project was included in the yr-ago sales

March 31 Mon Mar 31, 2014 6:03am EDT

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March 31 (Reuters) - Shenzhen Properties & Resources Development Group Ltd

* Says expects 2014 Q1 net profit down 87.3 percent at about 30 million yuan ($4.83 million)

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Further company coverage: ($1 = 6.2122 Chinese Yuan) (Reporting by Hong Kong and Singapore newsrooms)