Diversity pays big dividends for Wanda

Property developer turned conglomerate Dalian Wanda Group Co Ltd on Thursday reported that revenues from its diversified operations convincingly outperformed its core property business in the first half of 2017, as the benefits continued to flow from the restructuring of its business portfolio.

Wanda has been diversifying, through buying a slew of assets in various sectors including cinema chains and sports clubs, and has been a high profile buyer of assets internationally.

The group said first-half year total revenue came in at 134.85 billion yuan ($20 billion), up by 12.4 percent year-on-year. Of that, property operations generated 56.83 billion yuan, kicking in 42.1 percent of the total, according to its half year report released on Thursday.