Mar. 16, 2012 (China Knowledge) - China Overseas Land & Investment Ltd<0688
>, a major real estate developer of state-owned China State Construction Engineering Corp Ltd<601668
>, announced yesterday that its net profit jumped 21.5% year on year to HK$15.03 billion last year, boosted by higher property sales and revaluation gains.
Earnings per share were 183.9 HK cents, and the developer proposed a final dividend of 20 HK cents.
China Overseas Land, the biggest mainland developer listed in Hong Kong
, saw its underlying profit rise 37% year on year to HK$13.02 billion.
Revenue was HK$48.58 billion last year, up 9.6% from the previous year.
The company's property sales grew 29.8% year on year to a record RMB 87.09 billion in 2011, and its sales area climbed 5.3% to 5.58 million square meters.