By P.R. Venkat

China Resources Land Ltd.'s net profit fell 9% in the first half, as contributions from its shopping mall, hotel and office units fell due to Covid-19 restrictions.

Net profit was 11.54 billion yuan (US$1.67 billion), while revenue was down 2.1% at CNY44.87 billion, the company said Wednesday.

Despite a challenging environment, "the group has forged ahead steadily amid various challenges and has improved operating efficiency and minimized the impact of the Covid-19 through cost reduction, quality improvement and efficiency enhancement measures," the company said.

It said that the market started to experience an uptick in the second quarter. 



  Write to P.R. Venkat at venkat.pr@wsj.com