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Shenzhen Overseas Chinese Town's profit up 3.78% in 2011

Feb. 10, 2012 (China Knowledge) - Shenzhen Overseas Chinese Town Holding<000069>, controlled by OCT Enterprises Co, a group under the State-owned Assets Supervision and Administration Commission of the State Council, yesterday posted RMB 3.15 billion-net profit for 2011, 3.78% more than it realized in 2010.

Last year, Shenzhen Overseas Chinese Town's revenue climbed 0.71% from a year earlier to RMB 17.44 billion. Earnings per share stood at RMB 0.564.

Great Wall Securities Co estimated that the firm's EPS could reach RMB 0.82 in 2012.

Of the total revenue, about RMB 16 billion was derived from property sales, up 20% year on year, said the tourism property developer, adding that the company currently owns 1.8 million square meters of properties in saleable area.

In the tourism sector, the company said it intends to put Happy Valley, an amusement park, into trial operation in Wuhan, Hubei Province, this year

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