July 28 – Lander Real Estate (000558) posted an 11.76-percent year-on-year increase in net profits during the first half of 2011 to 45.22 million yuan, reports guandian.cn, citing a company filing.

Sales revenues fell 29.56 percent year-on-year to 566 million yuan. Gross profit margins for real estate property hit 46.58 percent, marking a 14.49 percent increase.

Lander attributed part of the growth to a profitable project in Yangzhou that consists of a community of 108 exclusive detached homes selling for 40,000 yuan per square meter.

The Hangzhou-based real estate developer was founded in 1988 in Hangzhou. It has recently stepped up investment in mines in Guizhou province.

Source:CapitalVue