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China Vanke Q1 attributable profit jumps 28.14% YOY

's first-quarterprofit attributable to equity shareholders increased 28.14% to 833.2 million Chineseyuan from 650.2 million yuan in the year-ago period.

ChinaVanke's EPS for the quarter ended March 31 was 7.5 fen, up 27.12% from first-quarter2015 EPS of 5.9 fen, according to a news release. Revenue surged 63.08% to 13.71billion yuan from 8.41 billion yuan a year ago.

Profitfrom operations rose to 2.48 billion yuan, compared to 1.48 billion yuan a yearearlier. Return on equity was up by 0.1 percentage point.

Regardingits property development business, China Vanke recorded a cumulative sales areaof roughly 5.5 million square meters and sales of 75.24 billion yuan, representingan annual rise of 37.6% and 59.5%, respectively, marking the highest growth ratecompared with the same period in the last five years. The company attributed thesurge to increased focus on land purchases and construction starts in 2015, amongother things.

As atMarch 31, total assets of the company amounted to 659.03 billion yuan, which compareswith 611.49 billion as at Dec. 31, 2015. At the end of the first quarter, ChinaVanke's net gearing ratio remained at the lower level of the industry, at 25.45%.

As of April 26, US$1 was equivalentto 6.50 Chinese yuan.