(10 August 2012) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688.HK) announced its 2012 interim results on 10 August 2012.
For the six months ended 30 June 2012, the Company’s turnover was HK$25.28 billion, increased by about 10% compared with same period of 2011. Operating profits increased by 12.2% to HK$12.23 billion. Profits attributable to shareholders was HK$8.38 billion, increased by 17.7%. Basic earnings per share increased by 17.7% to HK102.6 cents. The Board declared an interim dividend of HK15 cents per share, an increase of 15.4% compared to the same period of 2011. Besides, a special dividend of HK2 cents per share was also declared for celebrating the Company’s 20th listing anniversary.
Sales of properties amounted to HK$65.15 billion, an increase of 24.7% over the corresponding period last year. Total area sold was 3.95 million square meters, an increase of 28.6%.
Mr. Kong Qingping, Chairman of COLI stated, “In the first half of this year, tightening measures towards China property market remained strict, resulting a reduction in transaction volume and softening in house prices. Under such complicated and fast changing economic environment, the performance of the Company was still excellent. This confirms that our strategy of developing high quality residential projects in the core areas of major mainland cities is correct. The prospect of the property development business in China is bright and promising while that in Hong Kong and Macau is also good. COLI will push firmly ahead with its branding strategy, and continue to strengthen its financial capabilities by pursuing development, sale and cash collection in a faster manner. The Company will maintain its pioneer and leading position in the China property industry and we are very confident in the Company’s future.”
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