(Hong Kong, 17 March 2016) China Overseas Grand Oceans Group Limited (“COGOGL” or “the Company”, Stock code: 00081.HK) announced its annual results for the year ended 31 December 2015 (the “Year”) today. During the year, the Company’s revenue increased by 18.8% to HK$16,613.9 million comparing with last year. Gross profit margin was 15.6%. Operating profit decreased by 35.1% comparing with last year and reached HK$1,743.9 million. Profit attributable to owners of the Company decreased by 32.8% against last year to HK$851.2 million. Basic earnings per share were HK37.3 cents. The Board does not recommend the payment of a final dividend for the year ended 31 December 2015.
During the year, COGOGL successfully acquired a total of four land parcels in Lanzhou, Shantou and Hefei through public land auctions with a gross floor area of 1,653,041 sq.m. for a total consideration of approximately RMB2,723.7 million. As at 31 December 2015, total land bank of the Company is estimated available to build gross floor area of approximately 10,930,900 sq.m..
During the past few years, COGOGL has successfully well placed itself to benefit from the ongoing infrastructure investment and the rapid industrialization and urbanization of various inland cities in China. Looking ahead, the Company will continue to fully embrace the government’s urbanization policy, with a firm commitment to become a high-growth star property developer of the highest potential in the residential property market in China. Meanwhile, the Company will also continue to focus in the emerging cities with best investment value and growth potentials, and positioning at the middle to high-end product ranges.
Note:In view of the uncertainties involved in investment and sales process, discrepancies may exist between the above figures and those disclosed in our regular reports. As such, the above is for reference only.
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