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Zall Smart Commerce H1'18 attributable profit rises YOY, beats revenue forecast

Zall Smart Commerce Group Ltd.'s profit attributable to equity shareholders of the company for the six months ended June 30 grew year over year to roughly 1.24 billion yuan from 1.07 billion yuan.

EPS was recorded at about 10.63 yuan during the reporting period, compared with the nearly 9.97 yuan registered a year earlier.

The China-based real estate developer also reported a year-over-year surge in its revenue for the first half to 18.49 billion yuan from 2.32 billion yuan, beating its forecast of an at least 6x increase for the metric in the period.

Gross profit and profit from operations during the six months also jumped on an annual basis to 570.4 million yuan and 1.89 billion yuan, respectively, from 113.5 million yuan and 1.72 billion yuan.

Like the previous interim period, Zall Smart directors did not recommend to pay a dividend for the six months ended June 30.

As of Aug. 31, US$1 was equivalent to 6.83 yuan.