China Overseas Land & Investment Q1 Operating Profit Up 4.5%

China Overseas Land & Inves Ltd (ADR) CAOVY reported a 4.5 percent gain in its operating profit for the first quarter. The company's quarterly operating profit came in at 6.32 billion Hong Kong dollars ($815 million). Its revenue surged 4.9 percent year-over-year to HK$21.34 billion, while contracted sales slipped 7 percent. China Overseas Land & Investment shares fell 0.66 percent to close at $112.50 yesterday.