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China Overseas Land's profit hits HK$18.38 bln in Jan-Sep

Oct. 25, 2012 (China Knowledge) - China Overseas Land & Investment Ltd<0688>, a major real estate developer of China State Construction Engineering Corp Ltd<601668>, has announced that its operation profit rose about 10% YoY to HK$18.38 billion in the first nine months of this year.

China Overseas Land & Investment saw its operating revenue rise over 10% YoY to HK$42.13 billion in the nine-month period.

According to a statement filed with Hong Kong Stock Exchange, the company said its property sales in the first nine months of this year totaled HK$91.9 billion, accounted for 91.9% of its annual sales target of HK$100 billion.

Meanwhile, its sales area for the nine-month period hit 5.9 million sq m.

In August this year, the company raised its sales target for this year to HK$100 billion from the previous HK$80 billion.

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