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Shimao Property Raised Interim Dividend

Luxury home builder Shimao Property Holdings reported first half revenue of RMB35.822 billion, representing a year-on-year increase of 19.3%. Gross profit were RMB10.591 billion during the first half, core profit which excludes property fair value gains was RMB3.66 billion for the first six months ended June, up by 4.5% year-on-year.

Excluding the after-tax profit from the disposal of Beijing Fortune Times of approximately RMB630 million in 2016, core profit attributable to shareholders increased by 27.6% year-on-year.

The board declared the payment of an interim dividend of HK40 cents per share (1H2016: interim dividend of HK26 cents and special dividend of HK6 cents, totaling HK32 cents) to shareholders.

The company management said as part of its corporate strategies, Shimao slowed down in scale expansion for quality growth in 2015 and 2016, while attaching equal weight to scale and profit for 2017.

- APMR News

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