China Overseas Land & Investment Ltd. announced its 2007 Interim Results
Author:China Overseas Land and Investment Ltd.
On 16 August 2007, China Overseas Land & Investment Limited (“Company”), the listed arm of China Overseas Holdings Ltd., announced its unaudited consolidated results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2007. During the period, turnover increased by 32.2% to HK$4.76 billion, with PRC Property Development business making up the greatest proportion and increased to about 87% of the turnover. Businesses in the PRC contributed 96.0% of the turnover. The consolidated profit after tax attributable to equity shareholders of the Company amounted to HK$1.37 billion, representing an increase of 60.2% as compared to the corresponding period in 2006. The earnings per share is HK19.2 cents, representing an increase of 44.9% as compared to the corresponding period in 2006. Interim dividend of HK5 cents per share was declared, representing an increase of 25%.
Mr. Kong Qingping, Chairman of the Group reviewed that: backing on its team of quality professionals, “excellent quality” brand recognition, abundant financial resources coming from domestic and overseas financial channels, corporate governance of international standard, sharp market judgment and effective risk control policies and measures, the Group is fully confident that it will become a sizable and strong nationwide real estate developer with international influence.
The prospect of the Group’s property development business in China is bright and promising while that of Hong Kong and Macau is good. The Board is very confident of the future of the Group. The Group will watch closely changes in the market, seize actively the opportunities in the real estate market, enhance persistently its competitive advantages through improvement in its manpower, operation mode, product structure and branding thus maintaining the leading status as the blue chip of the real estate conglomerates in the international capital market.
The Group will strive to achieve the corporate mission of “Sustainability, Value-adding, Harmony and Win-win”. The Group will move steadily and firmly ahead with its strategy of achieving sustainable development, growing into an ever-green enterprise and attaining a win-win outcome for the Company, its shareholders, business associates, staff members and the community.
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