China Overseas Land Q3 operating profit rises 6 pct

HONG KONG Wed Oct 24, 2012 12:18am EDT

Related Topics

HONG KONG Oct 24 (Reuters) - China Overseas Land & Investment Ltd, the country's largest property developer by market value, posted a 6 percent rise in third-quarter operating profit, helped by sales in Hong Kong and Macau, although it forecast the worst is yet to come for China's property market.

The company, which focuses on mid- to high-end property, posted an operating profit of HK$6.15 billion ($793.5 million) in the July-to-September period, up from HK$5.79 billion a year earlier, it said in a filing on the Hong Kong stock exchange on Wednesday.

Analysts contacted by Reuters said they did not forecast third-quarter or nine-month results. ($1 = 7.7500 Hong Kong dollars) (Reporting By Yimou Lee; Editing by Anne Marie Roantree and Ryan Woo)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.