China Overseas Land and Investment Limited Announces 2016 1H Interim Results
[ Date：2016-08-29 Visits： ]
On 22 August 2016, China Overseas Land and Investment Limited (“COLI” or the “Company”, stock code: 00688.HK) announced the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2016.
In the first half of 2016, the Group’s revenue increased 20.5% to HK$78.15 billion. Operating profit increased 21.5% to HK$28.31 billion. Profit attributable to equity owners of the Company increased 20.6% to HK$19.69 billion. Basic earnings per share increased 5.3% to HK$2.00. The Board declared an interim Pidend of HK35 cents per share，75% increase compared with the same period last year.
As of the end of June 2016, contracted sales of properties was HK$95.26 billion, and the corresponding sales area was 6.01 million square metres. During the period, four land parcels were acquired by the Group in mainland China and Hong Kong, adding GFA of 2.28 million square metres to the land bank. As at the end of June, the total land bank of the Group was 36.45 million square metres.
As of 30 June, the shareholder’s equity of the Company reached HK$201.54 billion, the book value of net asset per share was HK$20.44, where annualised return to shareholders remains high at above 20%. During the period, the Group continues to practice stringent collection of sales proceeds, with cash of HK$117.96 billion on hand at the end of the period, which is the first time in over 10 years to have achieved net cash position, with ample liquidity. (from COHL)