China Evergrande’s Services Arm Posts 43% Profit Jump on Margin Lift

(Bloomberg) — China Evergrande Group’s property management services unit reported a 43% increase in profit in the first half, a positive development as the real estate giant edges toward one of the nation’s largest restructurings. 

Evergrande Property Services Group Ltd. recorded net income of 781 million yuan ($107 million) in the first half, the company said in a Hong Kong stock exchange filing late Thursday. It generated growth across revenue, gross profit margin and area under management. It didn’t declare an interim dividend.