August 22 – China Resources Land (110.9.HK) posted a 3.9-percent year-on-year surge in interim net profits to HK$3.56 billion yuan, reports yicai.com, citing a company filing. Net profits generated by the company’s core business fell 32.8 percent year-on-year to HK$1.28 billion yuan because most of its projects will be settled later this year.

As of August 17, China Resources Land’s transaction value hit 17.81 billion yuan on transaction area of 1.56 million square meters. In the first half of 2011, its gross profit margin hit 41.1 percent, up 2.7 percentage points from the same period last year.

Earnings per share slipped 2.9 percent year-on-year to HK$ 0.6637 and the firm plans to distribute interim earnings of HK$ 0.095 for every share held.

Sales revenues fell 38.3 percent year-on-year to HK$7.68 billion, of which real estate development accounted for HK$5.65 billion, a decrease of 48.9 percent. Sales made in leasing and property management businesses rose 56.7 percent year-on-year to HK$1.4 billion.

As of August 17, the firm had a total of 26.1 million square meters in land reserves.