Shimao Property First-Half Net Profit Rises 28%

By Joanne Chiu Features Dow Jones Newswires

Shimao Property Holdings Ltd.'s (0813.HK) net profit rose 28% in the first half on higher rental income and property sales.

Continue Reading Below

The real-estate developer said Tuesday that first-half net profit was 3.88 billion yuan ($586.3 million), compared with a net profit of CNY3.03 billion a year earlier.

Revenue rose 19% to CNY35.82 billion from CNY30.02 billion last year. It recommended an interim dividend of 40 Hong Kong cents (5 U.S. cents) a share.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

August 29, 2017 05:03 ET (09:03 GMT)