Evergrande's Core Profit Jumps 250% as Property Prices Climb
- Developer’s revenue more than doubled to 188 billion yuan
- Company pledges a switch to a new ‘low debt’ strategy
People look out from the waterfront in the Tsim Sha Tsui district as buildings across the Victoria Harbour stand illuminated at night in Hong Kong, China, on Tuesday, Aug. 30, 2016. That take-or-leave-it approach to managing Hong Kong will be put to the test Sunday, with almost 4 million voters eligible to choose 70 members of the former British colony's Legislative Council.
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
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China Evergrande Group, the developer controlled by billionaire Hui Ka Yan, reported a 250 percent jump in core first-half profit as property sales soared and prices climbed.