China Overseas aims for HK$100b in property sales for 2013
Developer says sales target is 'conservative' despite Beijing's market-cooling measures
China Overseas Land & Investment, one of the biggest developers on the mainland, is aiming for sales this year of at least HK$100 billion.
Chairman Kong Qingping described it as a conservative forecast, as the target has taken into account unfavourable circumstances the market could face.
Kong spoke to reporters as the company announced a 21.1 per cent jump in net profit last year to HK$18.72 billion, or HK$2.29 a share, up from a restated HK$15.46 billion, or HK$1.89 a share, a year earlier.
China Overseas said its core profit, excluding property revaluation, climbed 21.4 per cent to HK$15.8 billion. Turnover rose 25.8 per cent to HK$64.58 billion.
The board declared a final dividend of 24 HK cents a share, bringing the full-year dividend to 41 HK cents, an increase of 8 HK cents.
Kong said the central government would continue to adopt a proactive fiscal policy and prudent monetary policy in order to curb inflation.