Fosun International's First-Half Profit Leaps 30% to Record USD888 Million
Zhang Xia
/SOURCE : Yicai
Fosun International's First-Half Profit Leaps 30% to Record USD888 Million

(Yicai Global) Aug. 31 -- Chinese conglomerate Fosun International Ltd.'s [HKG:0656] first-half net profit soared more than 30 percent on the year to USD888 million to hit an all-time high.

Operating income in the first six months rose by 11.6 percent on the year to CNY36.3 billion (USD5.5 billion), the firm said in its interim earnings announcement yesterday.

The company attributed its strong earnings growth to the remarkable development of its three key focuses, "health, happiness and wellbeing."

Two home health service platforms, Shanghai Fosun Pharmaceutical Group Co. [SHA:600196;HKG:2196] and Club Med SAS, were big contributors.

Fosun International bought a controlling stake in Club Med, one of the world's largest holiday resort chains with has 67 resorts in 40 countries, in February 2015. Its revenue grew 6.4 percent on the year in the first half, while profit leapt 5.1 percent to EUR74 million (USD92.5 million). Fosun Pharmaceutical earned CNY8.3 billion in revenue, up 20 percent from the same time a year earlier.

Fosun International is a major Chinese conglomerate. Its businesses include healthcare, real estate development, steel, mining, retail and strategic investment services.

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Keywords: Fosun , Club Med SAS , Medicine