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Minmetals Land projects 40% YOY rise in FY'17 profit

Minmetals Land Ltd. expects profit attributable to its equity holders for the year ended Dec. 31, 2017, to increase by roughly 40% year over year.

The property developer attributed the projected increase mainly to the growth of the group's business operation, improvement in operating results and the "substantial increase" in the gross profit margin of its real estate development business.

The company expects to release its 2017 financial results by the end of March.