(5 August 2013) China Overseas Land and Investment Ltd (“COLI” or the “Group”, stock code: 00688.HK) announced its 2013 interim results today. For the six months ended 30 June 2013, the Group’s turnover was HK$32.19 billion, increased by 27.3% compared to the corresponding period of last year. Operating profit increased by 7.8% to HK$13.17 billion. Basic earnings per share increased by 31.1% to HK$1.35. The Board declared the payment of an interim dividend of HK18 cents per share.
During the period, contracted sale of properties was another record high of HK$80.07 billion, while the corresponding sales area was 5.24 million sq m.
Mr. Kong Qingping, Chairman of COLI said, “During the first half of 2013, strict tightening measure continued to apply in China property market. However, due to strong rigid demand, rise in both the home price and transaction volume was seen. There was improvement in the sentiment of the land market as well. Meanwhile, the property market transactions in Hong Kong and Macau have slowed down after the measures launched. Looking ahead, the Group will persistently enhance its competitive advantages through improvement in its management capability, operation mode and product structure, product quality and branding. The competitive edges of the Group will lead to ample opportunities and excellent performance. We are confident to maintain our pioneer and leading position in the China property industry. To grow into an evergreen enterprise, COLI will move steadily and firmly ahead with its strategy of continuous strengthening of corporate governance, practicing a high level of corporate citizenship, thus attaining a win-win outcome for COLI, its shareholders, business associates, staff members and the community.”
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