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China Vanke posts 31.64% YOY rise in Q3 profit

China Vanke Co. Ltd. posted a 31.64% year-over year rise in profit for the third quarter.

The company on Oct. 24 reported a consolidated third-quarter profit attributable to shareholders of 6.40 billion yuan, up from 4.86 billion yuan in the prior-year period. Basic EPS rose to 57 fen from 44 fen.

Revenue for the quarter climbed year over year to 84.59 billion yuan from 69.49 billion yuan. Gross profit increased to 28.95 billion yuan from 24.13 billion yuan, while profit from operations rose to 23.69 billion yuan from 16.84 billion yuan.

For the nine months ended Sept. 30, consolidated profit attributable to shareholders rose 30.43% year over year to 18.24 billion yuan from 13.98 billion yuan. Basic EPS climbed to 1.63 yuan from 1.27 yuan.

Revenue for the period rose to 223.91 billion yuan from 174.35 billion yuan.

As of Oct. 24, US$1 is equivalent to 7.07 Chinese yuan.