Lander Sports Q1 profit up 488%

On 29th April Lander Sports Development CO LTD, reported financial results for the quarter ended March 31, 2016. Their first quarter profit has grown 488.35% to over RMB 16.5million.

Net profit attributable to equity holders of the Company after deduction of non-recurring profit or loss has grown a staggering 2,525.92% annually from RMB 0.62 million in Q1 2015 to over RMB 16.3 million in Q1 2016.

However, Lander Sports' Q1 revenue has decreased 6.64% compared to the same period a year ago.

Lander Sports is a Hangzhou-based public company which changed its main business from property development and sales to sports-related business and changed its name from “LANDER REAL ESTATE CO LTD” to “LANDER SPORTS DEVELOPMENT CO LTD” in July 2015.

On 12th April Lander Sports signed a strategic agreement with the Curling Champions Tour (CCT) China GmbH Switzerland to promote winter sports in China.

On 23rd April Lander Sports announced it would set up a Sports and Cultural Fund with Beijing Cultural Center Construction & Development Fund Management Co Ltd. The fund size will be RMB 1 billion.

Source : Lander Sports

Proofread by Sean O Diobhilin