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FILE PHOTO: Employees walk past a logo of Vanke at its headquarters in Shenzhen, south China REUTERS/Tyrone Siu/File Photo HONG KONG Property giant China Vanke Co (2202.HK) (000002.SZ), the subject of a long-running battle for boardroom control, said on Sunday its core profit last year rose 19 percent, thanks to record sales. The nation's second-biggest home builder said core profit, which excludes revaluation gains, rose to 20.9 billion yuan ($3.04 billion) from 17.6 billion yuan in 2015. Analysts were expecting a profit of 21.1 billion yuan according to Thomson Reuters SmartEstimate data. The property giant has been in crisis since late 2015 as financial conglomerate Baoneng Group built up a 25 percent stake to become its largest shareholder and sought to oust management. But last week Vanke said state-owned Shenzhen Metro Group, a key ally, became its largest shareholder in terms of voting rights after a proxy agreement with its third-biggest shareholder, paving the way for the metro operator to take control of the homebuilder. "The group sincerely hopes that the shareholding issue will be resolved as soon as possible, allowing the group to be back on track for normal operations and creating larger values for shareholders and the society," the company said in a statement to the Hong Kong stock exchange. In a statement to the Shenzhen stock exchange on Sunday, Vanke said Baoneng had promised to maintain Vanke's independence and would not use its position to hurt the developer's interests. Net profit for 2016 rose 16 percent to 21 billion yuan, while revenue stood at 228.9 yuan, representing a year-on-year increase of 24 percent. "This year, the central government will continue to implement policies according to cities to prevent market overheating and begin formulating long-term mechanisms for the promotion of steady and healthy development of the property market," Vanke said. Beijing has been stepping up efforts to cool the property market on concerns about a bubble. Measures have included raising home purchase requirements and imposing price limits on sales.

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Gard, a security consultant for the New Zealand All Blacks, has denied making a false statement to police after a listening device was found in a meeting room at the team's hotel in Sydney before a rugby test against Australia last August. (AP Photo/Rick Rycroft) More SYDNEY (AP) A security consultant for the New Zealand All Blacks has denied making a false statement to police after a listening device was found in a meeting room at the team's hotel in Sydney before a rugby test against Australia last August. Adrian Gard, a 51-year-old Australian who has done work for the All Blacks for more than 10 years, appeared in the Waverley Local Court on Tuesday, where he formally denied a charge of false misrepresentation resulting in a police investigation. The case was adjourned until May 2. The charge does not imply Gard placed the listening device but he is alleged to have misled police during their investigation. The device was discovered in a chair in the team room five days before All Blacks officials made it public, on the morning of the test against Australia. The New Zealanders had a 42-8 win over an Australian team angered by the timing of the announcement. All Blacks coach Steve Hansen has described the charge as "bizarre and unbelievable," adding that Gard "is someone who is trusted and well-respected by us." The Australian Rugby Union said it had no involvement in the placement of the listening device. "The aspect that still leaves a bitter taste out of this whole affair is that the discovery of the device was reported publicly on game day when it is understood that the alleged discovery of the device occurred much earlier in the week leading up to the test match," ARU chairman Bill Pulver said after police charged Gard last month. "Clearly the media attention which resulted from it was a distraction that neither team needed on the morning of a very important test match." Reblog

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