March 27, 2017 / 9:09 AM / 5 months ago

Chinese developer Kaisa aims to post profit in 2017

HONG KONG (Reuters) - Chinese developer Kaisa Group Holdings Ltd (1638.HK) expects to bounce back this year and post a profit, as it aims to boost 2017 sales by 30 percent, company officials said on Monday.

They were speaking after the firm's shares leapt as much as 87 percent on the resumption of trading following a two-year suspension, as the first Chinese property developer to default on offshore bonds hinted at recovery with its first earnings report in 2-1/2 years.

Reporting by Clare Jim; Writing by Anne Marie Roantree; Editing by Clarence Fernandez

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