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China Overseas Land's FY'18 attributable profit climbs 10.1% YOY


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China Overseas Land's FY'18 attributable profit climbs 10.1% YOY

China Overseas Land & Investment Ltd. said its profit attributable to owners of the company for the full year ended Dec. 31, 2018, amounted to HK$44.90 billion, an increase of 10.1% from the HK$40.77 billion it recorded in the year-earlier period.

EPS for the reporting financial year came at HK$4.10, reflecting a 10.2% hike from fiscal year 2017's HK$3.72.

Revenue of the Hong Kong-listed property company climbed on an annual basis to HK$171.46 billion from HK$166.04 billion, while its operating profit grew during the comparable period to HK$70.73 billion from HK$62.87 billion. Profit before tax jumped year over year to HK$72.57 billion from about HK$63.42 billion.

For the second half of 2018, China Overseas Land's board proposed a dividend of 50 Hong Kong cents per share. Combining the proposed amount with the interim dividend of 40 cents per share, the company's total cash dividend for the year of 90 cents per share will be 12.5% higher than the 80 cents per share paid in the prior-year period.

The total assets and current liabilities of the company as of Dec. 31, 2018, grew year over year to approximately HK$476.20 billion from roughly HK$438.86 billion.