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Longfor Group posts YOY rise in H1 net profit

Longfor Group Holdings Ltd. posted a year-over-year rise in profit for the first half ended June 30.

The company on Aug. 26 reported a profit attributable to owners of 6.31 billion yuan, up from 5.43 billion yuan in the prior-year period. EPS rose to 1.06 yuan from 91 fen.

Core net profit for the half rose 26.0% year over year to 4.70 billion yuan.

Revenue climbed to 38.57 billion yuan from 27.12 billion yuan, while gross profit increased to 12.58 billion yuan from 10.07 billion yuan.

The company declared a interim dividend of 36 fen per share, up from the prior year's interim dividend of 30 fen per share. It will be paid Jan. 17, 2020, to shareholders on record as of Dec. 24.

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