CapitaLand Investment optimistic about China recovery despite 18.9% drop in H1 profit

DESPITE the high-interest-rate environment and China’s slower-than-expected recovery, CapitaLand Investment (CLI) is “cautiously optimistic” about its second half and will remain disciplined in its capital management and acquisitions, it said.

On Friday (Aug 11), the real estate giant posted an 18.9 per cent drop in net profit to S$351 million for its first half ended Jun 30, from S$433 million in the previous corresponding period.

This was mainly due to lower portfolio gains amid a prudent deal-making environment, which slowed down asset-recycling transactions, CLI said.