March 29, 2018 / 1:36 AM / in 23 days

Developer Sunac China aims to boost sales by 24 pct in 2018

HONG KONG, March 29 (Reuters) - Sunac China, the country’s fourth-largest property developer, said on Thursday it plans to boost contract sales by 24 percent this year to 450 billion yuan ($72 billion).

It will also book an impairment provision of around 16 billion yuan on its holding in embattled Leshi Internet Information & Technology Corp Beijing. Company vice-president Gao Xi told an earnings briefing that Sunac would not have to worry about a negative impact from Leshi in the future.

Tianjin-based Sunac said earlier on Thursday that core profit more than tripled, helped by a big jump in revenue. ($1 = 6.2946 Chinese yuan) (Reporting by Clare Jim; Editing by Anne Marie Roantree and Edwina Gibbs)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below