CapitaLand's Q1 profit down 1.7% at $182.8m

Singapore

CAPITALAND yesterday reported a 1.7-per cent drop in first quarter net profit to $182.8 million. Revenue, too, dipped 3.4 per cent to $612.6 million, for the quarter ended March 31.

This was mainly due to a 37.7 per cent drop in revenue from CapitaLand Singapore to $196 million, the only unit that failed to record higher revenue.