Poly Real Estate sales revenue tops 3 bln USD in first half

15:47, July 09, 2010      

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China's Poly Real Estate Group, the country's second largest property developer by market value, said Thursday its contracted sales revenue totaled 21.76 billion yuan (3.24 billion U.S. dollars) in the first half of this year, up 3.33 percent year on year.

In a statement filed to the Shanghai Stock Exchange, the developer said the increase was generated on the back of 2.67 million square meters of floor space sold, a 5.81 percent increase from the same period last year.

The company's contracted sales revenue in June stood at 6.34 billion yuan, nearly double its May sales of 3.19 billion yuan, despite a string of tightening measures introduced by the government this year to cool the property market.

Helped by the news, the developer's A-share price rose 0.82 percent to 11 yuan per share at the close Thursday.

Source: Xinhua


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