CR Land released the report on its full-year performance up to Dec 31, 2014, on March 23.

It reported that the turnover of CR Land was HK$88.381 billion, an increase of 23.8 per cent from the year before. Deducting the added value of property investment assessment, profit attributable to core shareholders was up 25 per cent on a year earlier to HK$11.802 billion. The final dividend in 2014 was 41 cents and CR Land paid a dividend of 49.5 cents per share, up 13.3 per cent from a year ago.

In 2014, CR Land’s signed contracts had a 4.4 per cent gain on a year earlier to 69.210 billion yuan. Sales of property increased 14.2 per cent year-on-year to 6.6009 million square meters. Thanks to the increased rent level of mature property and dramatic rent growth of new property, the turnover of property investment and hotel management was up 17.6 per cent from a year ago to HK$5.436 billion.

As of Dec 31, 2014, signed contracts worth 72.989 billion yuan had not been settled. The turnover of property development worth 53.337 billion yuan is due to be settled in 2015.

The interest-bearing debt ratio increased from 41 per cent in 2013 to 44.6 per cent in 2014 and the net interest-bearing debt ratio increased from 39.2 per cent in 2013 to 42.7 percent in 2014. But the ratio was at a lower range among its peers. Compared with the 44.8 per cent of interest-bearing debt ratio and 55.4 per cent of net interest-bearing debt ratio in mid-2014, the situation of CR Land’s debt turned around.