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Logan Property posts 49.4% YOY rise in H1 profit

Logan Property Holdings Co. Ltd. posted a 49.4% year-over-year rise in profit for the first half ended June 30.

The company on Aug. 26 reported a first half profit attributable to owners of 5.13 billion yuan, up from 3.43 billion yuan in the prior-year period. EPS rose to 90.45 fen from 59.96 fen.

Core profit rose 59.0% year over year to 4.67 billion yuan from 2.94 billion yuan, while core profit attributable to owners climbed 70.2% year over year to 4.51 billion yuan from 2.65 billion yuan.

Revenue for the first half increased to 27.02 billion yuan from 15.15 billion yuan, while gross profit grew to 9.39 billion yuan from 5.61 billion yuan. Profit from operations climbed to 10.18 billion yuan from 6.67 billion yuan.

The company's board declared an interim dividend of 38 Hong Kong cents for the first half, up from the prior year's first half dividend of 28 cents per share, which was made up of an interim dividend of 20 cents per share and a special dividend of 8 cents per share.

The interim dividend will be paid Nov. 29 to shareholders on record as of Nov. 20.

As of Aug. 23, US$1 was equivalent to 7.09 Chinese yuan.