China Overseas Land H1 core profit rises 34 pct

HONG KONG Fri Aug 1, 2014 12:53am EDT

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HONG KONG Aug 1 (Reuters) - China Overseas Land & Investment Ltd (COLI) said on Friday its first-half core profit jumped 34 percent, but warned of challenges ahead in the industry such as tight liquidity and faster consolidation.

The state-backed company's core profit during the period was HK$10.8 billion ($1.39 billion), while net profit was HK$13 billion, up 18 percent from a year ago.

($1 = 7.7498 Hong Kong Dollars) (Reporting by Clare Jim; Editing by Stephen Coates)