(Hong Kong, 21 August 2019) China Overseas Grand Oceans Group Limited (the “Company”; Stock Code: 0081.HK) is pleased to announce the interim results of the Company and its subsidiaries (collectively, the “Group”) for the period ended 30 June 2019.
For the six months ended 30 June 2019, contracted property sales of the Group and its associates and joint ventures amounted to HK$28,626.0 million, for an aggregated contracted area of 2,374,100 sq.m., representing an increase of 0.6% and 4.9% respectively against the same period last year.
For the six months ended 30 June 2019, Group’s revenue reached HK$12,794.6 million, increased by 14.4% against the corresponding period last year. Operating profit amounted to HK$3,834.9 million, an increase of 68.5% comparing with the same period last year. Profit attributable to the owners of the Company amounted to HK$1,831.6 million, an increase of 80.6% against last corresponding period. Basic earnings per share was HK53.5 cents (the corresponding period in 2018: HK31.5 cents per share).
In the first half year, the Group extended its business to Quanzhou, Fujian province. The Group bagged a total of fourteen parcels of land with a total gross floor area of about 3,563,000 sq.m. (attributable to the Group: 3,091,400 sq.m.) for a total consideration of approximately RMB15,641.7 million. As at 30 June 2019, the gross floor area of total land bank of the Group and its joint ventures in China reached 23,863,100 sq.m., of which, 68,200 sq.m. is held by joint ventures. The gross floor area of land bank attributable to the Group (including the interests in joint ventures) is 22,015,900 sq.m..
Cash and bank balances plus restricted cash and deposits were at a total of HK$27,340.2 million. The net gearing ratio, expressed as a percentage of net debts to equity attributable to owners of the Company, was 28.2% as at 30 June 2019.
The Board declared the payment of an interim dividend of HK6 cents per share for the period ended 30 June 2019 (the corresponding period in 2018: HK3 cents per share).