3Q Results In Line With Slow Revenue Growth, but Better Margin
China Vanke reported third-quarter 2017 results in line with expectations. Year through September, revenue and net profit were CNY 114 billion and CNY 11 billion respectively, up 2% and 34% year on year. Gross margin for the quarter was 29%, in line from that seen during the first half of year. Year to date, gross margin expanded 6 percentage points from a year ago, owing to higher average selling price, or ASP. EPS totaled CNY 1.003, up 35% year on year. The achieved revenue and net profit acco...
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