Shimao Property Holdings Ltd.'s profit attributable to shareholders for the first half ended June 30 increased around 19.5% year over year to 5.11 billion Chinese yuan from 4.27 billion yuan in the previous-year period.
Net profit from core business rose by 23.8% year over year to approximately 7.58 billion yuan from 6.12 billion yuan, while net profit from core business attributable to shareholders grew 20.6% to nearly 5.31 billion yuan from 4.40 billion yuan in the first half of 2018.
Net profit margin from core business attributable to shareholders was 13.7%, according to the Aug. 27 release.
Gross profit for the reporting period came in at 17.02 billion yuan, up 28.9% from roughly 13.21 billion yuan in the year-earlier period, while gross profit margin remained stable at 30.1%, the company added.
The group's revenue for the six-month period came in approximately 56.56 billion yuan, reflecting a 32.9% year-over-year rise from 42.57 billion yuan in the first half of 2018. Revenue from hotels, commercial properties operation, property management and others grew 75.3% year over year to roughly 3.33 billion yuan.
Shimao Property's contracted sales for the first six months increased 38.7% year over year to 100.34 billion yuan. Contracted gross floor area rose to 23.3% 5.56 million square meters from 4.51 million square meters in the corresponding year-ago period.
The company acquired land reserves spanning 14.12 million square meters, before interests, during the first half. As at June 30, the group's land bank stood at approximately 64.07 million square meters before interests.
The company's board declared an interim dividend of 60 Hong Kong cents per share for the period, up 20% from 50 Hong Kong cents in the first half ended June 30, 2018.
As of Aug. 26, US$1 was equivalent to 7.15 Chinese yuan.
