China Overseas Hongyang Announces 2017 Annual Results
Time： 2018-03-27 15:37:50 Source: China Overseas Holdings Limited
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(Hong Kong, March 26, 2018) China Overseas Hongyang Group Co., Ltd. ("the company"; stock code: 0081.HK) is pleased to announce the company and its subsidiaries The annual results of the companies (collectively referred to as the "Group") for the year ended December 31, 2017.
The contracted sales of the Group and its associated companies and joint ventures this year increased to HK$37,068.3 million (2016: HK$24,003.9 million), An increase of 54.4% over last year, involving a total sales area of ??3,411,900 square meters (2016: 2,673,800 square meters).
For the year ended December 31, 2017, the Group recorded a turnover of HK$20,277.8 million, an increase of 18.6% from last year. The gross profit and gross profit for the current year were HK$4,068.5 million and 20.1%, respectively, while those of the previous year were HK$2,935.0 million and 17.2%, respectively.
This year’s operating profit was HK$3,167.4 million, an increase of 48.5% from last year. The profit attributable to owners of the company was HK$1,271.4 million, an increase of 41.2% over the previous year. Basic earnings per share were HK 55.7 cents (2016: HK 39.4 cents).
The group is newly stationed in Xining City, Qinghai Province. Taking into account other newly added land parcels, the Group has absorbed a total of 10 land parcels in Hefei, Yancheng, Xining, Yinchuan, Changzhou, Yangzhou, Xuzhou and Ganzhou, with a total development area of ??2,508,047 square meters (the area attributable to the Group: 2,508,047 square meters) , The total consideration is approximately RMB 9,401.7 million.
As of December 31, 2017, the land bank held by the Group and its associated companies and joint ventures will provide a total of approximately 19,025,800 The construction area of ??square meters (the Group includes the attributable gross floor area of ??equity in associates and joint ventures: 17,910,800 square meters).
Cash and bank balances and restricted cash and deposits totaled HK$23,702.3 million, an increase of 13.8% from the end of the previous financial year (HK$20,820.5 million). As at December 31, 2017, the net gearing ratio of the Group was 26.8%.
The Board of Directors recommends the payment of a final dividend of HK3 cents per share for the year ended December 31, 2017 (2016: HK$2 cents) ).