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Pan Hong racks up 25.3% rise in full-year profit
PAN Hong Holdings Group chalked up a 25.3 per cent increase in net profit to 100.94 million yuan (S$20.35 million) for the full year ended March 31 amid a surge in revenue.
Revenue for the 12 months leapt 131.3 per cent to 1.4 billion yuan, attributable to handover of more property units of Nanchang Sino Harbour Kaixuan City Zone 3, Pan Hong Run Yuan Phase 1 and Huzhou Hua Cui Ting Yuan Phase 2.
"Focusing on pre-sales and quickening its pace of property development will continue to be the key strategies of the group," Pan Hong said in its financial results released on Thursday.
"The group will continue seeking opportunities to acquire land parcels in second to third-tier cities and consider expanding its property investments portfolio to provide more stable returns through rental income in the longer term."