COFCO Property rises slightly on forecast of soaring profit in 2009

19:15, January 27, 2010      

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COFCO Property, one of the major Chinese property developers, edged up 0.86 percent to close at 9.39 yuan (1.37 U.S. dollars) per share on Wednesday after forecasting a 150 to 200 percent jump in annual net profits last year.

In a statement filed to the Shenzhen Stock Exchange earlier in the day, COFCO Property said it expected last year's net profit to be around 360 million yuan, and earnings per share to be about 0.20 yuan.

The profit rise was attributable to rising home sales in the last quarter in 2009, it said.

Source: Xinhua
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