HONG KONG, March 13 Chinese developer China
Overseas Land & Investment Ltd said on Thursday its
2013 net profit rose 23 percent, beating expectations, but added
this year would remain challenging due to economic uncertainty
at home and abroad.
The company's net profit during the period was HK$23.04
billion yuan, compared with a median forecast by 26 analysts
polled by ThomsonReuters StarMine for a net profit of HK$20.3
In the July to December period, the company's net profit
rose 16 percent to HK$12.01 billion yuan, according to Reuters
calculations based on the full-year figure.
"Liquidity in the financial markets will tend to be tight
amid financial market reform and deleveraging," chairman Hao
Jian Min said in a statement.
China's property market has shown signs of losing steam
since late 2013 as local governments took further tightening
measures and banks gradually tightened lending to the sector.
(Reporting by Clare Jim; Editing by Anupama Dwivedi)