(Hong Kong, 24 March 2015) China Overseas Land and Investment Ltd (“COLI” or the “Group”, stock code: 00688.HK) announced its 2014 annual results today.
For the year ended 31 December 2014, the Group’s turnover increased 45.5% to HK$120.00 billion, with the mainland property development business contributing 93.7% of the total turnover. (If the turnover of the joint ventures attributable to the Group is taken into account, the total amount increased to HK$128.13 billion) Operating profit increased to HK$42.41 billion, with the mainland property development business contributing 81.0% of the operating profit. Gross profit margin for mainland property development projects remained at a satisfactory and industry-leading level. Profit attributable to equity shareholders of the Company increased by 20.1% to HK$27.68 billion, of which HK$3.85 billion was related to the net gain after tax arising from changes in the fair value of investment properties. Core profits increased by about 25.6% to HK$23.83 billion. Basic earnings per share increased by 20.1% to HK$3.39. The Board proposed a final dividend of HK35 cents per share. Together with the interim dividend of HK20 cents per share, total dividends for the year were HK55 cents per share.
In 2014, contracted sales of properties was HK$140.81 billion, while the corresponding sold area was 9.40 million sq m.
Mr. Hao Jian Min, Chairman and Chief Executive Officer of COLI said, ‘the coming year, 2015, is expected to be complex and ever-changing, due to the unfavourable global political and economic environment. The Group will continue to apply its longstanding maxim of “Exercise caution in details and implementation. Build a strong foundation to seek greater success.” （慎微篤行，精築致遠）With its solid foundation, international vision and exposure, appropriate nationwide development strategy plus excellent brand name and financial strength, the Group will continue to enhance its competitiveness in the industry through its consistent innovation. The Group 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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