China Overseas Grand Oceans Reports Profit Drop

China Overseas Grand Oceans Group Limited (HK:0081) has released an update.

China Overseas Grand Oceans Group Limited reported a decrease in contracted property sales by 26.7% and a 19.6% drop in revenue for the first half of 2024 compared to the previous year. The company’s profit attributable to owners fell by 48.5%, yet they maintained a strong financial position with robust cash flows and declared an interim dividend of HK3 cents per share. Challenges from the external economic environment and a stabilizing domestic property market marked the period.

For further insights into HK:0081 stock, check out TipRanks’ Stock Analysis page.