CapitaLand Q2 profit slides 36.6%

Singapore

CAPITALAND Limited has posted a 36.6 per cent fall in net profit for the second quarter ended June 30 from a year ago to S$294 million, dragged by higher cost of sales and lower fair value gains of investment properties.

But group chief financial officer Arthur Lang noted that the downbeat headline number "masked the fact that there were significant improvement in the underlying performance of the assets".

And given continued pressures on the renmin…