China Vanke - the country's largest developer by market cap - reported H1 profit 25% higher than...

|By:, SA News Editor

China Vanke - the country's largest developer by market cap - reported H1 profit 25% higher than a year ago. The details are less encouraging: Profit margin off 560 basis points to 26.5%, average price for sold homes off 10.6%, pre-build sales off 1.6%. Sales volume rose 9.6%, thanks to the lower prices.