China Overseas Land Net Profits Up 35% : Marin County Real Estate

Blue-chip Hong Kong developer China Overseas Land & Investment Ltd. said Tuesday its first-half net profit rose 35% from a year earlier, lifted by higher property sales.
China Overseas, the largest Hong Kong-listed mainland developer by market capitalization, said its net profit for the six months ended June 30 rose to 6.84 billion Hong Kong dollars (US$875.8 million) from HK$5.07 billion a year earlier.
The company, which has property developments in various mainland Chinese cities, including Beijing, Shanghai, Guangzhou and Shenzhen, said its revenue rose 25% to HK$21.88 billion from HK$17.55 billion.
The company recommended a first-half dividend of 13 Hong Kong cents a share, up from 10 Hong Kong cents the previous year.
China Overseas said it is maintaining its 2011 target of selling at least 6.3 million square meters of property.
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Source: http://jimmymarin.com/news/china-overseas-land-net-profits-up-35/
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