China Overseas Land H1 profit increases
China Overseas Land and Investment’s first half core profit rose 154.8 per cent on robust gains in home prices specially in bigger cities. The state-owned homebuilder said in a statement it raised its full year sales target by 17 per cent to HK$210 billion ($27.1 billion). Net profit rose 20.6 per cent to HK$19.7 billion, while revenue was up 20.5 per cent to HK$78.2 billion. “ It is expected that there will be additional policy supports on the development of the property market by the Chinese Government and the property market in China will improve moderately,” the company said.
Tags : INTERNATIONAL