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China Vanke sees 25% surge in H1 profit

Aug. 7, 2012 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest listed residential property developer by market value, announced yesterday that its net profit grew 25.1% YoY to RMB 3.73 billion in the first half of this year.

Earnings per share were RMB 0.34 during the period, said the company in its interim report.

The developer's operating revenue rose 53.7% YoY to RMB 30.72 billion in H1.

In the first six months, the developer's property sales fell 4.7% YoY to RMB 62.54 billion, while its sales area climbed 6.5% to 60.25 million square meters.

The company expected its property sales in the second half of this year to exceed sales in H1.

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