Property developer China Vanke Q1 core profit falls 59 pct amid sector weakness

April 26, 2015 12:45 PM

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HONG KONG, April 26 (Reuters) - China's largest residential property developer, China Vanke Co Ltd, said its first-quarter core profit fell 58.9 percent, reflecting a slide in the property sector that prompted Beijing's central bank to take steps to boost the market.

The company said the year-on-year fall was due to a high starting base and lower margins, but it expected to see a growth in profit for the full year.

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