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China Evergrande FY'18 net profit climbs 79.6% YOY

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China Evergrande FY'18 net profit climbs 79.6% YOY

China Evergrande Group said its net profit for the full year amounted to 66.55 billion yuan, a gain of 79.6% from 37.05 billion yuan in the prior-year period.

Profit attributable to shareholders came to 37.39 billion yuan compared with 24.37 billion yuan in the year-earlier period.

EPS rose to about 2.77 yuan from roughly 1.80 yuan in 2017. The S&P Global Market Intelligence consensus normalized EPS estimate for 2018 was 3.77 yuan.

Revenue increased 49.9% year over year to 466.20 billion yuan from 311.02 billion yuan.

Additionally on March 26, the developer's board did not recommend a final dividend for the year ended Dec. 31, 2018. It plans to hold another meeting to evaluate the payment of a final dividend for 2018 in July. The company paid a dividend of 1.13 yuan per share on Oct. 19, 2018, for the years 2016 and 2017.

As of March 25, US$1 was equivalent to 6.71 yuan.