Glorious Property Holdings posts 2.99bn yuan in losses, from 292.1 million yuan profit in 2013

Hit by sinking profit margins and lower property sales, the highly-geared mainland China developer Glorious Property Holdings said on Thursday it recorded a loss of 2.99 billion yuan last year, in a sharp reversal from the 292.1 million yuan profit it rang up in 2013.

via South China Morning Post - Business feed http://ift.tt/1PQiZXO