Vanke profit slows despite more buyers in first half

Developer says margins under pressure as overall market conditions yet to fully recover

China Vanke Co, the world's largest residential-property developer by revenue, posted slower net profit growth during the first six months of the year compared with gains in the same period last year.

Net profit edged up 0.77 percent to 4.85 billion yuan ($758.3 million), a sharp drop from the 5.6 percent expansion in the first half of 2014. It had recorded a 57.5 percent plunge in net profit in the first quarter. A strong pickup in sales during the second quarter helped recoup losses to some extent.