China Evergrande First-Half Net Profit Surges

By Chester Yung Features Dow Jones Newswires

China Evergrande Group (3333.HK) Monday said its first-half net profit soared from a year earlier, partly due to fair-value gain of investment properties and higher property sales.

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The Hong Kong-listed developer said its net profit for the six months ended June 30 surged to 18.83 billion yuan (US$2.83 billion) from CNY2.02 billion a year earlier, while its first-half revenue more than doubled to CNY187.98 billion from CNY87.50 billion a year earlier.

The company didn't declare an interim dividend.

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

(END) Dow Jones Newswires

August 28, 2017 05:15 ET (09:15 GMT)