October 31 -- Poly Real Estate Group (600048.SH) recorded a 1.28 percent year-on-year increase in third quarter net profit to 672 million yuan, with earnings per share (EPS) of 0.11 yuan, reports yicai.com, citing a company filing.

For the first three quarters, the property developer reported net profit to 3.47 billion yuan, with EPS of 0.58 yuan, up 51.33 percent.

Sales revenue increased 26.19 percent year-on-year to 21.81 billion yuan during the same period.

During the first nine months, Poly Real Estate recorded a 3.41 percent year-on-year rise in transaction area to 4.99 million square meters, while transaction value totaled 57.28 billion yuan, up 38.36 percent.

During the reporting period, the company was building, or planning to construct, a total of 155 developments, with total land area of 33.19 million square meters.

Through the end of September, Poly had total assets of 195.83 billion yuan, and net assets of 32.22 billion yuan, with a debt ratio of 80.74 percent.

Advance payments hit 79.51 billion yuan, accounting for 50.29 percent of total liabilities, while interest-bearing borrowings totaled 69.15 billion yuan, accounting for 35.31 percent of total liabilities.

In addition, Poly Real Estate had 12.43 billion yuan worth of short-term borrowings which will come due within the next 12 months, accounting for 17.98 percent of the total interest-bearing loans.

Source:CapitalVue