(EQS-News / 25/03/2015 / 11:29 UTC+8)
China Overseas Land and Investment Ltd
Announces 2014 Annual Results
(Hong Kong, 24 March 2014) 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."
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.
Caption: COLI Announces its 2014 Annual Results
China Overseas Land and Investment Limited
China Overseas Land and Investment Limited ("COLI"; Stock Code: 00688.HK)
was listed on the Stock Exchange of Hong Kong Limited in August 1992. It
was the first Chinese enterprise to directly go public by using the assets
of its business in Hong Kong. On 10 December 2007, the Company became a
constituent stock of the Hang Seng Index. Its core business is the
development and sales of property projects. Currently, the Company is
engaging in property development in 45 Mainland cities, as well as in Hong
Kong and Macau. The Company has successfully invested and developed
numerous popular and exquisite properties which were well received by the
consumers. Upholding the operation theory of "A Trusted Brand Growing
Through Diligence and Care", the Company will continue to achieve
continuous and rapid profit growth and maximize the return for the
shareholders.
For further information, please contact:
Corporate Communications Department
China Overseas Land and Investment Limited
Tel: (852) 2823 7888 | Fax: (852) 2529 9211 | E-mail: coli.pr@cohl.com
Website :www.coli.com.hk
End of Press Release
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Document: http://n.equitystory.com/c/fncls.ssp?u=DQLJQMYQJI
Document title: China Overseas Land and Investment Ltd Announces 2014
Annual Results
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Key word(s): Quarter Results
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(END) Dow Jones Newswires
March 24, 2015 23:30 ET (03:30 GMT)
