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CityDev profit falls on lower development, hotels gains

Earnings drop 16.4% to S$106.4m for Q3 and 5.7% to S$362.9m for the first nine months

Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Nov 12, 2015 · 09:50 PM
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Singapore

PROPERTY and hotels group City Developments Ltd (CDL) has posted lower earnings for both its third quarter and first nine months ended Sept 30.

Pre-tax profits from rental properties went up but were not sufficient to offset the sharp fall seen in its property development and hotel operations.

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