Yuexiu Property year net down 14% to Rmb2.47bn; div HK2.7cts

    Yuexiu Property (00123) said its profit attributable to equity holders for the year ended 31 December 2014 dropped 14.2% year-on-year to Rmb2,471 million.
  Core net profit (profit attributable to equity holders excluding fair value gains on revaluation of investment properties and the related tax effect and foreign exchange loss/gain) was Rmb1,575 million, an increase of 17% from a year earlier.
  Its basic and diluted earnings per share were Rmb23.29 cents.
  The revenue was Rmb15,702 million, up 10.5% year-on-year. Gross profit margin fell 2.5 percentage points to about 26.4%, which was mainly due to the changes in product mix, as more commercial properties with high gross profit margin were recognized during the corresponding period of 2013.
  In 2014, the Group recorded an aggregate contracted sales value (including contracted sales by joint venture projects) of around Rmb22,014 million, an increase of 50.4% comparing with the corresponding period of 2013, equivalent to an achievement of about 100% of the full-year contracted sales target of Rmb22 billion.
  The proposed final dividend is HK2.7 cents (2013: HK3.5 cents) per share, payable on or about 6 July.