[SINGAPORE] Southeast Asia's biggest developer CapitaLand Ltd
said on Thursday its second-quarter net profit fell slightly from a year
earlier due to lower portfolio gains.
The Singapore firm earned S$383.1 million (US$302.2 million) in the three months ended June versus S$385.9 million a year ago. Excluding portfolio gains, net profit would have risen 8.6 per cent to S$322.1 million.
"We will continue to focus on our core markets of Singapore and China to develop homes, offices, shopping malls, serviced residences and mixed developments," said chief executive Lim Ming Yan.
In the first half of 2013, CapitaLand sold 683 residential units with sales value of S$1.6 billion in Singapore, up from 259 units worth S$467 million a year earlier.
The Singapore firm earned S$383.1 million (US$302.2 million) in the three months ended June versus S$385.9 million a year ago. Excluding portfolio gains, net profit would have risen 8.6 per cent to S$322.1 million.
"We will continue to focus on our core markets of Singapore and China to develop homes, offices, shopping malls, serviced residences and mixed developments," said chief executive Lim Ming Yan.
In the first half of 2013, CapitaLand sold 683 residential units with sales value of S$1.6 billion in Singapore, up from 259 units worth S$467 million a year earlier.
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