HK-based Glorious Property hits near 9-mth high on FY turnaround hopes

Glorious Property Holdings

14/03/2019 02:34

** Shares of Glorious Property Holdings Ltd  0845.HK  rise
as much as 33.3 pct to HK$0.48, the highest since June 26, 2018,
after the China-focused developer forecast a turnaround in
yearly earnings
    ** Stock ranks third biggest pct gainer in early trade
    ** The developer expects profit for 2018, compared with a
2.61 bln yuan loss in the previous year, thanks to an increase
in properties completed and delivered, as well as a rise in
selling prices  urn:newsml:reuters.com:*:nFWN2100EE
    ** Co due to release annual results on March 28
    ** As of last close, the stock had fallen 13.3 pct so far
this year
    ** Glorious Property has underperformed the Hang Seng
Property Index sector  .HSNP  by 7.7 percentage points in the
past one month
    ** The property index gains 0.32 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)