HKEX | 2007
Country Garden (2007) FY18 core net profit RMB 34.13B, up 38.2% yoy
Country Garden (2007) announce annual result of last year. Net profit rose by 32.8% year on year, to approximately RMB34.62 billion. Basic earnings per share rose by 30.9% year on year to RMB1.61. Final dividend of RMB 30.32 cents per share, up by 21.5% year on year. The total annual dividends reached RMB48.84 cents per share, up by 38% year on year. The core net profit attributable to shareholder rose by 38.2% to RMB 34.13 billion, mainly due to the increase in the recognised revenue from the sales of properties of the company, the increase in the average selling price and the gross profit margin of such properties.
Contracted sales attributable to the shareholders of the Company of approximately RMB501.88 billion with contracted sales GFA attributable to the shareholders of the Company of approximately 54.16M sq.m., representing a year-on-year increase of 31.25% and 23.06% respectively. Revenue generated from property development increase by 67.8% to RMB 369.405 billion in 2018 from RMB 220.157 billion. The recognized average selling price of property delivered was RMB 8,550 per sq.m. in 2018, up 8.7% year on year.
As at 31 December 2018, the Group’s net gearing ratio was 49.6%, representing a decrease of 7.3 percentage points, with available cash amounted to approximately RMB 242.54 billion, and undrawn bank facilities totaled approximately RMB301.70 billion.