07.08.2012 - China's largest developer Vanke H1 profit up 25.1 pct
China Vanke Co Ltd, the largest mainland China property developer by sales, on Monday reported a 25.1 percent rise in net profit for the first half of the year, slightly stronger than expected. The net profit for the first half totalled 3.73 billion yuan ($585 million). Revenue for the first six months grew much faster than anticipated, up 53.7 percent to 30.72 billion yuan, but margins fell. Developers have been cutting prices in China to win business in a market downturn...............................................Full Article: Source
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