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Poly Real Estate reports 10% drop in H1 profit

Aug. 23, 2012 (China Knowledge) - Poly Real Estate Group Co Ltd<600048>, a major property developer in China, has announced its net profit decreased 10.16% YoY to RMB 2.51 billion in the first half of this year.

The property developer saw its operating revenue surged 32.86% YoY to RMB 20.18 billion in the first six months. Basic earnings per share were RMB 0.34 for the period.

In the first half of this year, Poly Real Estate saw its contractual sales grew 27.47% YoY to 50.3 billion and sold area amount to 4.38 million sq m, 28.43% more than in the same period of last year.

By the end of Jun 30, 2012, the company had RMB 36.51 billion in net assets, 3.54% more than at the end of last year.

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