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Kaisa issues positive profit alert for FY'17

After a turbulent past couple of years, Kaisa Group Holdings Ltd. said it expects to record a consolidated net profit for full-year 2017, after a consolidated net loss in 2016.

The Shenzhen-based developer's board attributed the positive profit alert mainly to an increase in recognized revenue from property sales, a substantial increase in average selling price and the gross profit margin of the sold properties.

Kaisa expects to publish its 2017 earnings results on March 27.