It is reported that CITIC Pacific posted a 50%YoY increase in 2010 net profit attributable to shareholders to HKD 8.92 billion.

As per report, revenue rose 52.16% to HKD 70.61 billion. The company plans to pay cash dividends of HKD 0.3 for each share held.

The company revenue from its special steel business hit HKD 30.48 billion in 2010 accounting for 43% of the total. Net profit from this sector totaled HKD 2.1 billion accounting for 49% of the company total net profit.

CITIC Pacific plans to expand its special steel capacity to nine million tons in 2011. Revenue from its real estate business totaled HKD 4.05 billion in 2010, including HKD 3.79 billion from the mainland and HKD 258 million from Hong Kong.

According to the company, its land reserves are sufficient for seven to eight years of development.

(Sourced from yicai.com)