Realtors gird for slumps in midyear net profit

Poor sales, weakening market offer little comfort to listed developers

Lower home sales and weak property prices will dent the net profits of listed Chinese developers for the first six months of the year, analysts said on Wednesday.

Of the 23 real estate companies listed on the Chinese mainland stock markets that have released their midyear performance preview, only nine companies anticipate growth in net profit. Two companies are set to post flat returns, while 12 companies expect a slump in profit or even losses.