Country Garden expects good H2

Chinese developer Country Garden Holdings Co Ltd said on Tuesday it expects the mainland property sector in the second half of this year to outperform the first six months.

Country Garden president Mo Bin was speaking at an earnings press conference after the company reported a first-half net profit of 5.42 billion yuan, up by 25.6 percent from the same period last year.

The firm posted sales of 58.42 billion yuan in the first six months, up by 73.6 percent from last year and achieving 46 percent of its annual goal.

Country Garden aims to make 128 billion yuan of revenue in 2o14.

The company also said it expects its sales for the first half of August to be better than July thanks to policy easing.