HONG KONG Aug 10 China Overseas Land &
Investment Ltd, the mainland's largest home builder by
market value, reported on Friday a 9.3 percent rise in
first-half core profit, a little lower than expected, but the
company booked str o nger sales than its peers amid a property
The company, which focuses on mid- to high-end property,
posted a net profit of HK$8.38 billion ($1.08 billion), and
earnings per share of HK102.6 cents.
Core profit for the period was HK$6.36 billion. Four
analysts polled by Reuters forecast an average 16.3 percent rise
in interim core profit to HK$6.71 billion.
First-half revenue totalled HK$25.3 billion, with the luxury
home builder benefiting from customers gravitating towards
developers with better-brand names during the industry slowdown.
The company revised its full-year sales target to HK$100
billion, up from HK$80 billion.
The company declared a dividend of 15 cents per share, up 15
percent, and a special dividend of 2 cents per share to
celebrate the 20th anniversary of its stock listing.
($1 = 7.7556 Hong Kong dollars)
(Reporting by Alex Frew McMillan; Editing by Muralikumar