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China Resources Land's attributable profit grows 23.1% YOY in FY'18

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China Resources Land's attributable profit grows 23.1% YOY in FY'18

China Resources Land Ltd. said its profit attributable to owners of the company for the full year ended Dec. 31, 2018, totaled 24.24 billion yuan, a gain of 23.1% from the 19.69 billion yuan it recorded in the prior-year period.

EPS for the reporting year amounted to 3.50 yuan, an increase of 23.2% on an annual basis from 2.84 yuan in 2017.

During the comparable period, the Hong Kong-listed developer's revenue grew 18.9% to 121.19 billion yuan from 101.94 billion yuan, while its gross profit jumped to 52.58 billion yuan from 40.96 billion yuan. Similarly, China Resources Land's attributable core profit excluding revaluation gain from investment properties came at 19.30 billion yuan, reflecting an annual improvement of 17.8%.

The full-year dividend of the company is expected to rise 28.4% year over year to 1.059 yuan per share after the board proposed a dividend of 94.9 fen per share for the last six months of 2018.

As of March 25, US$1 was equivalent to 6.71 yuan.