By Yifan Wang
Country Garden Holdings Co. said its net profit in 2019 rose by 14%, due to solid revenue growth and a larger portion of profits attributable to non-controlling interests.
Net profit attributable to company owners was 39.55 billion yuan ($5.59 billion), compared with CNY34.62 billion in 2018, the Chinese developer said on Friday.
Revenue growth outpaced attributable profit, rising 28% to CNY485.91 billion, thanks to strong increases in its property sales, it said.
For 2020, Country Garden expects the coronavirus pandemic to pose temporary volatility on the operations of its construction and sales activities.
However, as the virus crisis eases in China, the company believes that housing demand will not be reduced.
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