March 26, 2018 / 9:22 AM / 4 months ago

China Evergrande says aims to boost annual sales by 60 pct in 2020

HONG KONG, March 26 (Reuters) - China Evergrande Group , the nation’s third-biggest property developer by sales, said on Monday it aims to achieve 800 billion yuan ($127.44 billion) in annual sales in 2020, up 60 percent from last year.

Chairman Hui Ka-yan was speaking after the company said 2017 core profit nearly doubled to a record high, boosted by the sale of more apartments and the redemption of high-interest perpetual bonds.

Shares of Evergrande closed up nearly 4 percent ahead of the results announcement, outpacing a 0.8 percent gain for the benchmark Hang Seng Index. ($1 = 6.2776 Chinese yuan renminbi) (Reporting by Clare Jim; Editing by Anne Marie Roantree and Christopher Cushing)

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