Simon Property Group’s Net Jumps 27.8 Percent in 2nd Quarter

Despite widespread troubles in the U.S. real estate market, mall developer Simon Property Group Inc. bolstered both earnings and revenues in the second quarter.

Net income available to common shareholders jumped 27.8 percent to $76.6 million, or 34 cents a share, from $59.9 million, or 27 cents a year ago. Sales for the three months ended June 30 rose 7.8 percent to $922.9 million from $855.9 million.