17 Feb '17, 2pm

@CapitaLand 's Q4 earnings surged by 73.8%

Artist’s impression of D1MENSION, a new residential project by CapitaLand in Vietnam. Source: CapitaLand CapitaLand’s net profit soared 73.8 percent year-on-year to S$430.5 million in the fourth quarter of 2016 due to better operating performance, leading to an 11.7 percent increase in the full-year figure to S$1.19 billion. On an annual basis, the company’s revenue rose 6.5 percent to S$1.85 billion during Q4 2016, resulting in a 10.3 percent gain in its gross income for the whole year to S$5.25 billion. This was driven by developments in Singapore and China, the commercial portfolio here, and the serviced residence business. “CapitaLand achieved creditable financial performance in 2016 despite a challenging environment,” said its President and Group CEO Lim Ming Yan. In 2016, the developer sold a record total of 12,789 housing units. Specifically, it found buyers for 571...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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