Hopson Development Holdings - which announced a 97 per cent jump in net profit to $143.37 million in the six months to June - sees sales slowing in coming months. Managing director Stones Tse Sai-tung said the Guangdong government's decision to cease supplying welfare housing by the end of next year, instead of July this year, would defer purchases by enterprises, which had accounted for 40 per cent of sales in the first half. But he expected sales for the firm, which focuses on property development and investment in Guangzhou, to pick up towards the end of the year. He said the company should be able to meet its full-year profit forecast of more than $308 million mainly through property sales, complemented by interest income on its $500 million cash pile. The company reported a turnover of $621.84 million, up 136 per cent on the same period last year. Earnings per share were 18 cents. The firm would not pay an interim dividend. Mr Tse said gross profit margin fell to about 35 per cent from 45 per cent because of its policy to set lower prices for new projects.