Feb 29 - Country Garden: 2011 Net Profit at CNY 5.8 Billion

Source: Country Garden, ChinaScope Financial (Data)

+       On February 28, Country Garden Holdings Co., Ltd. (HKEX: 2007) reported that in 2011, the company’s gross revenue was CNY 34.7 billion, a 34.7% year-on-year increase; its net profit was CNY 5.8 billion, a 19.6% year-on-year increase.

+       In 2011, Country Garden made about CNY 43.2 billion of contracted sales value, a 31% year-on-year increase; the gross floor area (GFA) of contracted sales was about 6.87 million square meters, a 15% year-on-year increase.

+       MO Bin, President and Executive Director of Country Garden, takes a cautious approach to the real estate market this year, and predicts a zero year-on-year sales growth.

In 2011, Country Garden (2007.HK) realized a year-on-year growth of around 30% in revenue, net income and contracted sales volume.

The gearing ratio, measured by the net debt (total debt net of unrestricted cash and cash equivalents) over the total equity, exceeded 70% in 2011.

The growth rate of Country Garden’s (2007.HK) property inventories has not increased significantly over the past two years.

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