4 days ago
Country Garden's May Sales Drop 28% With No Revival In Sight
Country Garden Holdings Co. 's sales slide intensified in May, with the developer faring worse than the broader China housing sector.
The Foshan-based company, once China's largest property firm, reported monthly sales that dropped 28% from a year earlier to about 3.1 billion yuan ($431 million), Bloomberg calculations based on filings from Friday show. The decline was from an already low base, and was much steeper than the 8.6% drop in new home sales posted by the country's top 100 developers.
