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Friday, 16 April 2010

CapitaLand Q1 net profit more than doubles

By EMILYN YAP


CapitaLand on Friday reported a net profit of $115.4 million for the first quarter ended Mar 31, 2010. This is 2.7 times the $42.9 million earned a year ago.

Revenue rose 41 per cent over the same period to $687.3 million, with contributions coming largely from residential development projects in Singapore, China and Vietnam. There were also higher contributions from service residence operations.

The property giant's earnings per share in Q1 was 2.7 cents, up from 1.2 cents in the previous year.

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