China Resources Land 1st Half Net Profit Down 33%

By Chester Yung Features Dow Jones Newswires

-Real-estate developer China Resources Land Ltd. (1109.HK) on Wednesday said its first-half net profit fell 33% from a year earlier, dragged lower by weaker property revenue.

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The Hong Kong-listed developer said the net profit for the six months ended June 30 fell to 5.11 billion Hong Kong dollars (US$653 million) from HK$7.66 billion; revenue fell 21% to HK$35.26 billion.

The developer declared an interim dividend of 10 Hong Kong cents a share.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 23, 2017 01:00 ET (05:00 GMT)