Guangdong-based developer KWG Properties Holding said first-half net profit jumped 94.38 per cent to 221.74 million yuan (HK$253.65 million) as it sold more properties. Revenue for the six months to June soared 588.67 per cent to 720.7 million yuan from 104.65 million yuan a year earlier, said the company. It had nine projects available for sale with four launched in May and June. Market sentiment is deteriorating because of tightened credit terms at banks and plentiful new supply, but the company said it was optimistic about the second half. However, net profit margin in the first half dropped to 30.8 per cent from 109 per cent a year earlier as the company, which was listed in Hong Kong last year, had less interest income and property value gains.