China Resources Land Ltd<1109>, the Hong Kong-listed real estate unit of China Resources (Holdings) Co Ltd, said its net profit for the first half of this year nearly tripled from a year earlier due to a robust increase in property sales revenue, sources reported.
In a statement filed with the Hong Kong Stock Exchange, the property developer said that its net profit during a six-month period end Jun. 30 was HK$ 3.46 billion, whereas it earned HK$1.29 billion in the same period of last year.
In the period from January to June, revenue was HK$12.41 billion, up from HK$3.38 billion a year earlier, according to the statement.
By Aug. 22, China Resources Land's land reserves totaled 22.61 million square meters.
The company announced to declare an interim dividend of 9.5 HK cents per share, up from 5.4 HK cents a year earlier.
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In terms of market value, China Resources Land is the second-largest Chinese property developer listing in Hong Kong, only next to China Overseas Land & Investment Ltd<0688>. .(Edited by EnergyChinaForum.com. For more information, please email to: info@energychinaforum.com)
(China Knowledge,Sep 1,2010)
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