(Hong Kong, 18 August 2015) China Overseas Grand Oceans Group Limited (the “Company”; Stock Code: 00081.HK) today announced its unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2015.
For the six months ended 30 June 2015, the Group’s contracted property sales amounted to HK$10,075.0 million, for an aggregated area of 1,072,300 square metres, representing an increase of 22.6% and 39.0% respectively against the same period last year. The Group’s revenue was HK$7,278.5 million. Operating profit amounted to HK$1,051.9 million. Profit attributable to the owners of the Company amounted to HK$595.0 million. Basic earnings per share was HK26.1 cents. The Board did not recommend the payment of an interim dividend.
In the first half of 2015, the Group did not acquire any land parcel. As of 30 June 2015, total land bank of the Group in 15 cities in the PRC reached 10,969,500 square metres.
The Group is dedicated to enlarge the operating scale and speed up the pace of development, in order to increase the marginal cost efficiency and stock turnover rate. With standardized management systems, the Group will continue to streamline its operating processes and safeguard the internal controls. To cope with the changing market environment, the Group continued to explore all kinds of marketing methodologies to speed up sales programs and further improve the sell-through rate of the inventory. In addition, the Group will also maintain professional and prudent financial management of the financial resources, closely monitor the impacts from the external economic environment and national policy changes on the business operations and continue to enhance our advantages and market share in the cities we operate.
The Group’s vision fully embraces the government’s urbanization policy, with a firm commitment to become a high-growth star property developer with the highest development potential in the PRC residential property market. The Group will continue to focus its scope of business primarily in the emerging cities with best investment value and growth potentials, and positioning at the middle to high-end product ranges.
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