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Stocks to watch: Property stocks ahead of URA's new home-sales data
CITY Developments Limited (CDL) posted a record net profit of S$384.9 million for the fourth quarter ended Dec 31, 2014, up 73.4 per cent over the previous year. This was on the back of revenue rising 7.4 per cent to S$846.9 million. For the full year, the property developer's net profit rose 12.2 per cent to S$769.6 million, from S$686.2 million a year ago. Revenue correspondingly rose 17.1 per cent to S$3.76 billion.
CDL released its results ahead of the Urban Redevelopment Authority's release on Monday of new home-sales data for January.