Property investor Chinese Estates Holdings says first-half net profit surged 957.8 per cent to $3.62 billion, while profit of subsidiary Evergo China Holdings fell. Chinese Estates said turnover rose 624.2 per cent to $7.16 billion as its core property investments generated an average occupancy rate of about 94 per cent. Earnings per share rose 871 per cent to 188.4 cents. Directors maintained the dividend at 11 cents a share. At Evergo, listed a year ago and which invests in mainland properties, profit fell to $13.5 million. It said the disappointing result came because it had no sales income from the disposal of significant properties during the period.
