March 20, 2018 / 4:44 AM / in 3 months

Chinese developer Country Garden's annual core profit up 106 pct

HONG KONG, March 20 (Reuters) - China’s Country Garden Holdings Co Ltd said on Tuesday its core profit for 2017 rose 106 percent to a record on robust sales and higher margins.

The nation’s No.1 property developer by sales said in a statement its core profit, which excludes non-recurring income and revaluation gains, grew to 24.7 billion yuan ($3.90 billion)last year.

Net profit rose 126 percent to 26.1 billion yuan, while revenue was up 48 percent at 226.9 billion yuan. ($1 = 6.3254 Chinese yuan renminbi) (Reporting by Clare Jim; Editing by Edwina Gibbs and Muralikumar Anantharaman)

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