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China's Differ Group expects YOY rise in FY'17 net profit

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China's Differ Group expects YOY rise in FY'17 net profit

China-based Differ Group Holding Company Ltd said March 21 that it expects to post an 18% to 25% year-over-year increase in net profit for full year 2017.

The company attributed the profit growth to an increase in revenue from its assets management business and finance lease services, as well as the reversal of impairment loss recognized on finance lease, loan and account receivables.

For the 2016 full year, Differ Group reported profit attributable to owners of the company at 135.5 million yuan.

The company is set to post its yearly earnings for 2017 on March 28.

As of March 21, US$1 was equivalent to 6.33 Chinese yuan.