[photopress:shimaoproperty.jpg,full,alignright]Shimao Property Holdings, a Chinese mainland developer controlled by billionaire Xu Rongmao, more than doubled its profit last year. Net income rose to RMB2.28 billion (US$295 million) from RMB908 million in 2005, Bloomberg News reported, citing a company statement.
No comparison for earnings per share was given.
Sales climbed to RMB6.91 billion from RMB2.5 billion a year earlier. Hong Kong-listed Shimao will pay a dividend of 20 Hong Kong cents (2.6 US cents).
Source: Shanghai Daily