China HGS (HGSH) Posts Solid Q2 Performance with 88% Earnings Increase
China HGS Real Estate Inc., a leading residential property developer in China’s southern Shaanxi province, today reported financial results for the fiscal second quarter of its 2011 business year ended March 31, 2011, posting an 88 percent increase in earnings. Revenue for the second quarter jumped to $26.2 million compared to revenue of $13.9 million reported in the second quarter of 2010. Gross profit increased 124.5 percent to $12.7 million in the second quarter of 2011 compared to $12.7 million the comparable quarter of 2010. Gross margin was 48.4 percent compared to 40.6 percent in the same period of 2010.…