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Mapletree Investments posts 14.3% rise in full-year profit
MAPLETREE Investments Pte Ltd achieved a 14.3 per cent growth in profit after tax and minority interests (Patmi) from a year ago to S$1 billion for the fiscal year ended March 31, 2015, thanks to strong operational performance.
Its revenue rose 7.4 per cent to S$1.6 billion, bolstered by new income streams from the group's acquisitions during the year, higher contributions from Mapletree's flagship development in Singapore, Mapletree Business City, and positive contributions from Mapletree's four listed Reits.
"Already, we are seeing the results of the disciplined approach we take to our business, with return on equity at a strong 10.8 per cent for FY14/15, and averaging at 11.5 per cent over the last five years," said Mapletree Group CEO Hiew Yoon Khong.
" Going forward, we will continue to seek quality assets overseas, in markets within Asia and beyond - such as the US, Europe and Australia - to diversify risks and sustain our growth and profitability," he added.
Having completed two development projects in the past fiscal year, Mapletree is slated to complete another five developments over the next four years.
Its total owned and managed assets stood at S$28.4 billion as at March 31, 2015, and its net asset value grew at an average compounded annual rate of 12.3 per cent over the past five fiscal years.