China Overseas Land & Investment Ltd. ( COLI , Stock code: 688) announced its 2008 annual results on March 23, 2009.
For the year ended 31 December 2008, the Group s turnover was HK$18.89 billion, increased by 14% compared to the corresponding period of last year. Operating profit increased by 27% to HK$9,040 million. Profits attributable to shareholders was HK$5,050 million, increased by21%. Basic earnings per share was 64.8 cents, increased by 14%. Shareholders fund up 26% to HK$33.22 billion. Average return on shareholders funds was 17%. The Board recommends the payment of a final dividend of HK 7 cents per share, together with the interim dividend of HK6 cents, dividends declared for the year was HK 13 cents per share.
Mr. Kong Qingping, Chairman of China Overseas Land & Investment Ltd. said, Year 2009 will be full of opportunities and challenges. The Group will continue to apply the long-standing maxim of Exercise caution in details and implementation Build a strong foundation to seek greater success . Through its hard work and persistent innovation and by continually enhancing its operating and management capability, the Group is fully confident of its performance in 2009. Furthermore, with its solid foundation, international vision and exposure, appropriate nationwide development strategy plus excellent brand name and financial strength, the Group is capable of converting Crisis to Opportunity and Pressure to Dynamism. The Group is very confident that it can maintain its leadership position in the China real estate industry and achieve steady high-quality balanced growth.
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