(13 March 2014) China Overseas Land and Investment Ltd (“COLI” or the “Group”, stock code: 00688.HK) announced its 2013 annual results today.
For the year ended 31 December 2013, the Group’s turnover increased 27.7% to HK$82.47 billion. Operating profit increased to HK$28.35 billion. Basic earnings per share increased by 23.1% to HK$2.82. The Board proposed a final dividend of HK29 cents per share. Together with the interim dividend of HK18 cents per share, total dividends for the year were HK47 cents per share.
In 2013, contracted sales of properties was a record high of HK$138.52 billion, while the corresponding sold area was 9.23 million sq.m..
Mr. Hao Jian Min, Chairman of COLI said, ‘The mainland continued to deploy stringent regulatory measures towards the property market in 2013. Nevertheless, amid the normalization of austerity measures and a highly competitive market environment, the Group achieved satisfactory growth in its sales and profits, demonstrating the Group’s excellent operational capabilities and brand advantages. It is expected that the tough restrictive policies will likely remain in place for 2014 and the PRC property market is expected to remain stable. The Group will closely monitor the market and control the pace of its project development and sales appropriately. The Group will continue to launch targeted, highly differentiated, premium products. By leveraging its brand name, backed by innovative marketing and sales operations, the Group can improve its sale results and cash flow, maximize the return on its assets and ensure sustainable growth in the scale and profitability of its operations. In the markets of Hong Kong and Macau, the Group will take advantage of the synergy generated by the highly respected “China Overseas Property” brand in the high-end sector of the mainland China property market to ensure the successful sales of the luxury projects. By continuously enhancing its competitiveness in the industry through consistent innovation, COLI is confident that it can maintain its leadership position in the China property industry and achieve steady, high-quality balanced growth.’
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