Wanda posts 14 percent sales decline

Slump in property business outweighs growth in entertainment operations

Dalian Wanda Group Co's revenue fell for the first time in at least 11 years after a slump in its property business outweighed growth from entertainment operations at billionaire Wang Jianlin's conglomerate.

Sales, which included property-contracted sales, declined 14 percent in 2016 from a year earlier, according to a Wanda statement on Saturday, more than a January 2016 forecast of a 12 percent drop.