Shanghai Lujiazui Finance and Trade Zone Development (600663.SH) reported its net profit slipped 12.19 percent year-on-year to 891 million yuan in the first half of 2011, with earnings per share of 0.478 yuan, reports 163.com, citing a company filing.

Revenue rose 27.55 percent year-on-year to 2.584 billion yuan during the reporting period.

Revenue from land leasing rose 11.23 percent year-on-year to 1.66 billion yuan during the reporting period, accounting for 64.6 percent of total revenue, with a profit margin of 59.26 percent. However, Shanghai Lujiazui’s operating costs for land leasing leaped 221.8 percent year-on-year, reducing its profit margin 26.21 percent during the reporting period.

Property transactions contributed 177 million yuan to Shanghai Lujiazui’s total profit in the first half of 2011, with a profit margin of 67.48 percent.