地产龙头利润十年首次下滑

China Vanke, the country's largest property developer by revenue, has posted a decline in first-quarter profits compared with a year earlier, its first drop in quarterly profit since 2002. 地产龙头万科发布的2014年一季报显示,营业收入和净利润双降,为2002年以来首次下滑. A report on the Shenzhen Stock Exchange's website shows that net profits for the company fell 5.23 percent to just over 1.5 billion yuan in the first three months of this year--this is in contrast to the 1.6 billion yuan it earned around the same time a year prior. During the January-March period, Vanke's revenue plummeted more than 32 percent to 9.5 billion yuan. The developer attributed the weak revenue and profit margins to seasonable factors, claiming that the first quarter is typically a slow period and most sales made in the second half of the year, especially during the fourth quarter. Vanke did not give reasons for the company's decline in first-quarter net-profits since 2002.