(9 August 2011) China Overseas Land & Investment Ltd (“COLI” or “the Company”, Stock code: 00688) announced its 2011 interim results on 9 August 2011.
For the six months ended 30 June 2011, the Company’s turnover was HK$21.88 billion, increased by 24.7% compared with same period of 2010. Operating profit increased by 37.1% to HK$10.94 billion. Profits attributable to shareholders was HK$6.84 billion, increased by 35.0%. Basic earnings per share increased by 35.0% to HK83.7 cents. The Board declared an interim dividend of HK13 cents per share, an increase of 30.0% compared to the same period of 2010.
The sales record of the Company was a record high of HK$52.23 billion, an increase of 85.9%. The total area of properties sold was 3.07 million square meters, an increase of 38.2%.
Mr. Kong Qingping, Chairman of COLI stated, “Excellent performance of COLI under such tough market environment confirms our strategy of developing high quality residential projects in the core areas of major mainland cities is correct. Although the market could be more complicated in the remaining part of this year, the Company will persistently enhance its competitive advantages through improvement in its management capability, operation mode, product structure, product quality and branding. The competitive edges of the Company will lead to ample opportunities and excellent performance. We are confident that COLI can maintain its pioneer and leading position in the China property industry and attain a win-win outcome for the Company, its shareholders, business associates, staff members and the community.”
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