Poly Real Estate reports net profit, revenue growth in first half

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Cars pass by a housing block in Binzhou, Shandong province, Feb 4, 2016. [Photo/IC]
Cars pass by a housing block in Binzhou, Shandong province, Feb 4, 2016. [Photo/IC]

Poly Developments and Holdings Group Co., also known as Poly Real Estate, reported growth in net profit and revenue in the first half of the year (H1).

Net profit attributable to shareholders reached 10.12 billion yuan (about 1.45 billion U.S. dollars) in H1, up 1.66 percent from a year ago, the company said in a statement filed with the Shanghai Stock Exchange.

The major real estate developer saw its operating revenue rise 3.6 percent year on year to 73.7 billion yuan.

Due to the impact of COVID-19, contracted sales slipped 11.12 percent to 224.5 billion yuan during the first six months, according to the statement.

Shares of Poly Real Estate closed 4.98 percent higher at 16.87 yuan Monday as the benchmark Shanghai Composite Index closed 3.11 percent higher at 3,314.15 points. Enditem

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