China Vanke 2012 Profit Rises 30% on Sales of Smaller Homes

China Vanke Co., the nation’s biggest developer by market value traded on mainland exchanges, said full-year profit rose 30 percent as it sold more small and medium-sized homes that are less affected by government curbs.

Net income climbed to 12.55 billion yuan ($2 billion) in the 12 months to Dec. 31 from 9.62 billion yuan a year earlier, the Shenzhen, China-based company said in a statement today. That compares with the 11.95 billion yuan average profit estimate of 16 analysts surveyed by Bloomberg. Revenue rose 43 percent to 96.9 billion yuan, it said.