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Longfor Properties' FY'17 profit climbs 37.6% YOY

Longfor Properties Co. Ltd. said its profit attributable to owners of the company for the full year ended Dec. 31, 2017, totaled nearly 12.60 billion yuan, an increase of 37.6% from the 9.15 billion yuan recorded in the prior-year period.

The Hong Kong-listed developer saw its EPS grow 35.7% in financial year 2017 to 2.13 yuan from 1.57 yuan in the year-ago period.

Revenue during the reporting year increased 31.5% on an annual basis to roughly 72.08 billion yuan from about 54.80 billion yuan, while total comprehensive income climbed 62.2% year on year to 16.17 billion yuan from 9.97 billion yuan. Gross profit came to approximately 24.44 billion yuan compared with nearly 15.94 billion yuan in the year-earlier period.

Longfor's board recommends a final dividend of 47.3 fen per share and a special dividend of 8.5 fen per share to celebrate the company's 25th anniversary. Along with the 20-fen-per-share interim dividend, the 2017 dividend totaled 75.8 fen per share, 62.7% higher compared with the 46.6 fen distributed in the year-ago period.

As of March 22, US$1 was equivalent to 6.33 yuan.