BBMG Corporation (02009) said it expects to record a decrease in net profit attributable to shareholders of 0% to 25% for the year ended 31 December 2014 as compared with the profit of Rmb3,215 million for the same period in 2013.
Such expected decrease is mainly due to the suppression of demand in property market in recent years as a result of the effect of the continuing macro-control policies in the property sector, such that the total transaction volume for commodity housing remained sluggish, and the uneven distribution of revenues and profits over the years because some of the enterprises of the company's property development segment are non-wholly owned and the booked profits were affected by the progress of delivery on completion for property projects located in different key geographical areas.
Its annual results announcement will be released in March.
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