China Overseas Land Logs Nearly 23 Billion Yuan in Q3 Revenue

MT Newswires Live2024-10-25

China Overseas Land & Investment (HKG:0688) recorded an operating profit of 2.13 billion yuan and revenue of 22.65 billion yuan for the third quarter, a Friday Hong Kong bourse filing said.

In the September quarter, the group acquired six land parcels in China for 6.54 billion yuan, adding a total gross floor area of 730,000 square meters to its land reserve.

For the nine months ended Sept. 30, the group's operating profit totaled 18.18 billion yuan, while revenue was 109.58 billion yuan. Contracted property sales amounted to 198.85 billion yuan, with a sales area of 7.63 million square meters.

The company's shares were down less than 2% in recent trade.

Price (HKD): $14.56, Change: $-0.26, Percent Change: -1.75%

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