Orient Overseas (International) (OOIL) and its subsidiaries have announced a profit attributable to equity holders of US$1,284.6 million for the six-month period ended June 30, 2010.
This result includes the profit on the sale of the group's former Chinese property development business conducted under Orient Overseas Developments (OODL) to CapitaLand China (RE) Holdings Co. The net profit on the sale, after associated costs, was US$1,004.4 million.
The group's profit after tax for the period from continuing operations, before the inclusion of the profit from the sale of OODL, was US$287.3 million. This represents an increase of US$506.6 million compared to the loss of US$219.3 million for the equivalent operations in the first six months of 2009.
The Board of Directors has announced an interim dividend for 2010 of US$0.115 cents per ordinary share. In addition the Board of Directors has also decided to declare a special dividend of US$0.4 per ordinary share, representing approximately twenty-five per cent of the net profit on the sale of OODL.
