China Overseas Land & Investment
COLI is an investment holding and property investment group. It was incorporated in Hong Kong in 1979, a subsidiary of China State Construction Engineering Corporation, the largest construction conglomerate in China. In August 1992, COLI was listed on the Hong Kong Stock Exchange, and in 2007 became a constituent stock of the Hang Seng Index.
China Overseas Land H1 core profit rises 27pc
Reuters in Hong Kong
China Overseas Land & Investment, the country’s top property developer by market value, logged a 27 per cent rise in first-half profit due to strong sales in mid- and high-tier cities, where it priced its properties strategically to counter tightening measures.
The state-backed developer posted a core profit of HK$8.06 billion ($1.04 billion) in the January-to-June period, up from HK$6.36 billion a year earlier, it said in a filing on the Hong Kong stock exchange on Monday.
The result was better than the average forecast for a core profit of HK$7.67 billion in a Thomson Reuters poll of three analysts.
Shares of China Overseas Land rose 0.2 per cent ahead of the results on Monday morning, in line with the Hang Seng Index’s 0.2 per cent gain.