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China Overseas Grand Oceans Group Ltd. Announced its 2012 Annual Results Author: China Overseas Grand Oceans Group Ltd.

(1 March 2013) China Overseas Grand Oceans Group Ltd. (“COGOGL” or the “Company”, Stock Code: 00081.HK) announced its 2012 annual results for the year ended 31 December 2012 (the “Year”) on 1 March 2013.

The Group increased its revenue by 88.1% to HK$9,716.9 million and gross profit increased 31.5% to HK$3,938.2 million for the year ended 31 December 2012. Profit margin was 40.5% in current year with increasing proportional sales mix generated from third-tier cities. Operating profit was HK$3,810.0 million, representing an increase of 11.8% over the corresponding period last year. Profit attributable to the shareholders of the Company enhanced by 32.2% to HK$2,400.7 million. Basic earnings per share was HK105.2 cents. The Board declared the payment of a final dividend of HK6.0 cents per share.

With the increasing number of development projects undertaken when more third-tier cities were entered into by the Company, the operation scale had enlarged steadily. New cities entered into included Ganzhou, Yangzhou, Nantong and Changzhou. As of 31 December 2012, COGOGL has ongoing property development projects in twelve cities in the PRC with a land bank reached 9,126,800 sq.m.

During the year, COGOGL had entered into more third-tier cities at different strategic locations in the PRC and lay down solid business foundation. It will continue to identify good potential third-tier cities for future business development and expansion.

Faced with the challenges ahead, the Company would continue to strengthen the cost controls, launch development project schedule sensibly and set up corporate strategies under the main theme of healthy, stable and swift development. The Company would concentrate its efforts to provide innovative market propositions, enhance its marketing capabilities and expand its land bank in selective third-tier cities to strive for a sustainable business growth.

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