China Overseas Land: Nine-Month Operating Profit Up 14% to HK$39.96 Billion

By Joanne Chiu Features Dow Jones Newswires

China Overseas Land & Investment Ltd. (0688.HK) reported on Friday a 14% rise in operating profit for the first nine months, underpinned by higher property sales.

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The blue-chip property developer's operating profit for the first nine months was 39.96 billion Hong Kong dollars ($5.12 billion), with revenue rising 1.7% to HK$108.41 billion.

In the third quarter, it reported an operating profit of HK$7.83 billion, down 5.9% from HK$8.32 billion it reported last year. Its revenue stood at HK$21.21 billion, a 13% drop from HK$24.33 billion a year ago.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

October 20, 2017 00:39 ET (04:39 GMT)