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BEIJING, Aug. 17 (Xinhua) -- China Vanke http://www.montrealcanadiensteamstore.com/adidas-noah-juulsen-jersey , the country's largest property developer by revenue, posted slower profit growth in the first half of 2014 compared with robust gains in the same period last year.


Net profits edged up 5.55 percent year on year to 4.81 billion yuan (about 782 million U.S. dollars) in the first six months, said a report on the website of the Shenzhen Stock Exchange. The growth was sharply down from a 22-percent increase in net profits in the first half of 2013.


However, the Shenzhen-based company seems to have recovered a bit from its bleak first quarter. In the January-March period, it posted a 5.23-percent year-on-year decline in profits http://www.montrealcanadiensteamstore.com/adidas-max-pacioretty-jersey , its first quarterly profit decline since 2002.


The company's decline in revenues also narrowed from Q1. From January to June, China Vanke reaped total revenues of 40.96 billion yuan, down 1.04 percent from a year ago, but narrowing from a plummet of 32.16 percent in January-March.


The basic earnings per share rose 6.59 percent year on year to 0.44 yuan per share.


Vanke noted in the report that H1 real estate sales across China had cooled from last year but still grew steadily compared with figures in 2012.


Despite a decline in sales on the nationwide market, the company adjusted its strategy and achieved 14.6-percent growth in total building area sold in H1 http://www.montrealcanadiensteamstore.com/adidas-maurice-richard-jersey , as well as a 20.6-percent increase in sales revenue, said the report.


Small apartments accounted for as much as 92 percent of the commodity housing it sold in H1, according to the report.


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