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China Resources Land's Recurring Revenue Jumps 7% in June

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China Resources Land's (HKG:1109) recurring revenue rose 7.1% year over year in June to 4.46 billion yuan, according to a Hong Kong bourse filing on Monday.

Of the total, rental income from investment property rental surged 10.7% year over year to 2.87 billion yuan.

The company recorded contracted sales of about 23 billion yuan in June, down 2% from a year earlier, on contracted gross floor area of about 799,000 square meters, also down 11%.

For the first half, contracted sales grew 5.6% to 116.5 billion yuan, even as contracted GFA fell 23% to 3.16 million square meters. Cumulative recurring revenue reached 26.5 billion yen during the six-month period, up 7.6%.

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