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China Overseas Land 2012 profit up 21.1 percent, beats forecast
March 18, 2013 / 4:31 AM / 5 years ago

China Overseas Land 2012 profit up 21.1 percent, beats forecast

HONG KONG, March 18 (Reuters) - China Overseas Land & Investment Ltd, the country’s largest developer by market value, on Monday posted a 21.1 percent rise in 2012 net profit and said it was targetting property sales of no less than HK$100 billion in 2013.

Net profit for the year totalled HK$18.72 billion ($2.4 billion), up from HK$15.46 billion in 2011.

Analysts had expected net income of HK$15.6 billion for the year, according to Thomson Reuters StarMine, based on the mean estimate of 30 analysts.

Reporting By Yimou Lee; editing by Miral Fahmy

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