China Overseas Land & Investment Ltd. ( COLI , the Group , Stock code: 00688) announced its 2010 annual results on March 17, 2011.
For the year ended 31 December 2010, the Group s turnover was HK$44.3 billion, increased by 18.7% compared to the corresponding period of last year. Profits attributable to shareholders was HK$12.7 billion, increased by 66.6%. Basic earnings per share was HK151.4 cents, increased by 65.3%. Shareholders fund up 30% to HK$54.7 billion. Average return on shareholders funds was 25.6%. Net assets per share were HK$6.7, an increase of 30% on 2009. The Board recommends the payment of a final dividend of HK 17 cents per share.
For the year ended 31 December 2010, the Group s turnover was HK$44.3 billion, increased by 18.7% compared to the corresponding period of last year. Profits attributable to shareholders was HK$12.7 billion, increased by 66.6%. Basic earnings per share was HK151.4 cents, increased by 65.3%. Shareholders fund up 30% to HK$54.7 billion. Average return on shareholders funds was 25.6%. Net assets per share were HK$6.7, an increase of 30% on 2009. The Board recommends the payment of a final dividend of HK 17 cents per share.
The Group achieved a new sales record of HK$66.8 billion, and increase of 42.2%. The total area of properties sold was 5.3 million, an increase of 11.5% on 2009.
Mr. Kong Qingping, Chairman of China Overseas Land & Investment Ltd. said, The financial indicators of the Group for 2010 were sound with our profit continued to rise and shareholders value continued to improve. In 2011, the global economy is somewhat intricate as control measures for property may continue and the business environment is full of challenges. The Group will make subtle and meticulous moves, especially in competitive strengths in the industry, such as brand building, product enhancing and financial position strengthening, to bring in the best results and returns for the shareholders.
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