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Palm grows first half net income by 60.91%

Wednesday, 02 Aug 2017 15:30   |   By Chen Yaping

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Chinese landscaper Palm Eco-Town Development Company witnessed a major improvement in its overall performance in the first half with increased sales and profitability.

According to interim report, Palm’s turnover rose by 47.8 per cent to RMB 2.1 billion in first half 2017. Net Income Attributable to Shareholders jumped by 60.91 per cent to RMB 84.3 million.

The report also indicates that the growth was partly driven by the landscaping company’s investment in eco-town business in the past two years.

Founded in 1984, Palm has re-steered its business strategy to focus on the development of eco-towns. It has made Eco-town Plus Sports as a key direction after the company’s indirect takeover of West Bromwich Albion through merging with Yunyi Guokai, the owner of the Premier League club.

According to earlier reports, Palm is looking to build up 5 or 6 West Brom Sports (Soccer) Towns, where the Premier League side’s youth training model will be introduced.

Source: Sina

Proofread by Raymond Fitzpatrick

Tags: English Premier League,

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