COLI Maintaining Growth Through Operational Efficiency and Acquisitions
China Overseas Land & Investment, or COLI, reported full-year 2018 below consensus and our estimate. Core profit excluding valuation gains was CNY 37.1 billion, up 8% year on year, but it fell short of our projection by 9%, mostly attributed to the lower than expected top line. Core profit per share came in at HKD 4.10, up 10% year on year. The company announced a final dividend of HKD 0.50 per share, bringing the full-year dividend to HKD 0.90 per share, up 13% year on year. While the prope...China Overseas Land & Investment is an investment holding company. Co. is principally engaged in property development and investment, real estate agency and management, and treasury operations. Co.'s business activities are principally carried out in Hong Kong, Macau, Guangzhou, Shanghai, Beijing, Foshan, Chengdu, Nanjing, Suzhou and other regions in the China. Co.'s segments include: Property development, which is involved in the proceeds from property development activities; Property investment, which is involved in property rentals; and Other operations, which is involved in real estate agency and management services, construction and building design consultancy services.
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