(18 March 2013) China Overseas Land and Investment Ltd (“COLI” or the “Group”, stock code: 00688.HK) announced its 2012 annual results on 18 March 2013. For the year ended 31 December 2012, the Group’s turnover was HK$64.58 billion, increased by 25.8% compared to the corresponding period of last year. Operating profit increased by 15.7% to HK$27.07 billion. Basic earnings per share increased by 21.2% to HK$2.29. Average return on shareholders’ funds was 23.6%. The Board recommended the payment of a final dividend of HK24 cents per share.
In 2012, sales of properties amounted to HK$111.52 billion, representing an increase of 28.1% over the corresponding figure last year, while sold area increased by 30.6% to over 7.29 million sq.m.
Mr. Kong Qingping, Chairman of COLI said, “The outstanding performance of the Group in 2012 demonstrated the Group’s excellent operational capabilities and brand advantages. We are well prepared to deliver good performance even amid the normalization of tightening measures. With the effective suppression of speculation and investment as well as the appropriate consolidation of the property industry, the PRC property market is expected to remain dynamic in 2013 and the whole industry presents both challenges and opportunities. Looking to the year ahead, COLI will take full advantage of its sound financial structure and diversified financing channels to actively increase financial resources and to seize investment opportunities including the acquisition of prime land parcels through various channels. The Group will also actively seek market opportunities to ensure sustainable growth, increase its market share and consolidate its leading status in the property industry. It is expected that the rapid ongoing urbanization will continue to drive the property market in mainland China. Hence, we are very confident in the COLI’s future.”
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