CHINA Overseas Land & Investment Ltd, the Hong Kong-listed developer controlled by the construction ministry, said yesterday first-half profit rose 69 percent after it sold more residential units on the mainland.
Net income rose to HK$2.31 billion (US$296 million), or 29.6 cents a share, from HK$1.37 billion, or 18.8 cents a share, a year earlier, the company said in a Hong Kong stock exchange statement. Sales jumped to HK$10.7 billion from HK$4.76 billion, Bloomberg News reported.