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C&D International expects at least 300% YOY rise in FY'18 profit

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C&D International expects at least 300% YOY rise in FY'18 profit

C&D International Investment Group Ltd. expects its profit attributable to company equity holders for the year ending Dec. 31 to be at least approximately 1.32 billion yuan.

The Chinese property developer said the projected profit indicates an increase of at least 300% over its profit of approximately 329 million yuan booked a year ago.

The company attributed the expected increase in profit to the "significant increase" in the group's expected delivered area of its property development projects and the revenue recorded during the year.

As of Dec. 21, US$1 was equivalent to 6.91 yuan.