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Country Garden H1 net profit rises 20.8% YOY

Country Garden Holdings Co. Ltd. said net profit for the first half rose 20.8% from a year earlier on higher apartment sales.

Net profit for the six months ended June 30 rose to 15.64 billion yuan from 12.94 billion yuan in the prior-year period. Basic EPS increased to 73 fen from 60 fen in the year-earlier period.

Revenue rose 53.2% to 202.01 billion yuan from 131.89 billion yuan, operating profit jumped to 36.27 billion yuan from 26.89 billion yuan, while gross profit rose 56.9% year over year to 54.86 billion yuan from 34.97 billion yuan.

The Hong Kong-listed developer declared an interim dividend of 22.87 fen per share, up from 18.52 fen per share in the prior year.

As of Aug. 22, US$1 was equivalent to 7.08 yuan.