China-based real estate property developer Guangzhou R&F Properties Co. Ltd. on Thursday reported a 39 percent increase in profit attributable to owners of the company for the year ended 31 December 2013, to RMB7.63 billion from RMB5.50 billion in the prior year. Diluted earnings per share increased to RMB2.39 per share from RMB 1.72 per share a year ago.
The increase in net income reflects the increase in net profit of the company's core business of property development, to RMB6.12 billion. This was the result of a 20 percent increase in turnover from sale of properties along with considerable fair value gains from investment properties, which lifted results of the Group's property investment segment.
Revenue for the year rose 19 percent to RMB36.27 billion from RMB30.37 billion last year.
The company's board of directors proposed a final dividend of RMB0.50 per share, totaling RMB1.61 billion, which is to be be approved by the shareholders at the annual general meeting on 29 May 2014. Of this, RMB14.33 million is to be paid for shares held by Share Award Scheme as at 31 December 2013.
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