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Financials

Chinese developer Country Garden's 2018 core profit up 38 pct

HONG KONG, March 18 (Reuters) - China’s Country Garden Holdings Co Ltd said on Monday its core profit for 2018 rose 38.2 percent to a record on robust revenue and higher margins.

The nation’s top property developer by sales said in a statement its core profit, which is net profit excluding non-recurring income and revaluation gains, grew to 34.13 billion yuan ($5.08 billion) last year.

That compares to the 33.81 billion yuan Refinitiv SmartEstimate. SmartEstimates improve upon the accuracy of the average estimate by placing a higher weight on recent forecasts and on top-rated analysts.

Net profit rose 33 percent to 34.6 billion yuan, while revenue was up 67 percent to 379.1 billion yuan. ($1 = 6.7121 Chinese yuan renminbi) (Reporting by Clare Jim; Editing by Muralikumar Anantharaman)

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