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CapitaLand Q1 gain slips on stake divestment
Earnings down 11.8% to S$161 million, but net profit from continuing operations up 9.4%
Add BT as a preferred sourcePublished Thu, Apr 30, 2015 · 09:50 PM
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Singapore
CAPITALAND marked an 11.8 per cent fall in net profit for the first quarter ended March 31 to S$161.3 million, mainly because it stopped recognising contributions from Australand, an associate that was divested in March last year.
Its net profit from continuing operations, however, was 9.4 per cent higher than a year ago on the back of an increased stake in CapitaMalls Asia (CMA) as well as portfolio gains in the first quarter, partially offset by lower revaluation gains from investment properties.
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