{"id":104235,"date":"2019-02-21T11:11:54","date_gmt":"2019-02-21T04:11:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-q4-net-profit-soars-71-to-475-7m\/"},"modified":"2019-02-21T17:02:57","modified_gmt":"2019-02-21T10:02:57","slug":"capitalands-q4-net-profit-soars-71-to-475-7m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-q4-net-profit-soars-71-to-475-7m\/","title":{"rendered":"CapitaLand\u2019s Q4 net profit soars 71% to $475.7m"},"content":{"rendered":"


\nThe developer does not expect home prices to rebound quickly after new property cooling measures were introduced in July.
\nSingapore\u2019s largest developer CapitaLand saw its net profit jump 71 percent year-on-year to $475.7 million during the fourth quarter of 2018, while revenue rose 34 percent year-on-year to $1.62 billion.
\nThe developer attributed the increase in net profit to \u201cbetter operating performance, as well as higher gains from asset recycling and revaluation of investment properties\u201d.
\nFor the whole of 2018, revenue and net profit climbed 21 percent and 12.3 percent to $5.6 billion and $1.8 billion respectively.
\n\u201cCapitaLand has achieved good results amidst a challenging economic and market environment. This achievement is due primarily to our diversified asset base, disciplined approach in asset recycling and capital allocation, and strong operating expertise,\u201d said CapitaLand\u2019s chairman Ng Kee Choe.
\nSpeaking in a Bloomberg interview, CapitaLand\u2019s chief financial officer Andrew Lim said the company does not expect home prices in Singapore to stage a rapid rebound after the government introduced new property cooling measures in July.
\n\u201cWe agree with the main view on the street which is that we don\u2019t expect a big bump up anytime soon,\u201d he said.
\n\u201cIf we see a five percent increase in home prices I think that will be a pretty good year for the Singapore residential market,\u201d noted Lim. \u201cThe severity and extent of the measures in July caught us by surprise.\u201d
\nMeanwhile, City Developments Limited (CDL) saw net profit for the fourth quarter of 2018 drop 54.7 percent to $77.9 million from $171.9 million over the same period in 2017. Revenue also fell 40.6 percent to $788.3 million from $1.3 billion in Q4 2017.
\nIt noted that the higher revenue and net profit for Q4 2017 \u201cwere boosted by the full recognition of revenue and profit from The Brownstone EC, which obtained its Temporary Occupation Permit in October 2017 and a gain from the partial divestment of the Group\u2019s interest in two Chongqing projects\u201d.
\n\u201cExcluding $94.1 million of impairment losses for hotels and $20.1 million of allowance for foreseeable losses for two small-scale development projects in central London which potentially may be leased out, as well as a gain from the partial divestment of the group\u2019s interest in two Chongqing projects in 2017\u201d, net profit for Q4 2018 had in fact expanded by 17 percent.
\nFor the whole of 2018, CDL\u2019s revenue and net profit rose 10.3 percent and 6.7 percent to $4.2 billion and $557.3 million respectively.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand\u2019s Q4 net profit soars 71% to 5.7m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The developer does not expect home prices to rebound quickly after new property cooling measures...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104235","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-r7d","jetpack-related-posts":[{"id":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":104235,"position":0},"title":"CapitaLand\u2019s net profit rose 13.6% in Q3","date":"November 14, 2018","format":false,"excerpt":"\r View of The Nassim condominium project. CapitaLand\u2019s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling. Operating profit for Q3 2018 increased 13.3 percent to $233.7 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":104235,"position":1},"title":"CapitaLand Net Profit Drops 7.4% In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r Revenue also declined 23.8 percent to $1.048 billion, mainly due to lower contributions from residential projects.\u00a0 CapitaLand saw its net profit drop 7.4 percent to $295.6 million in the first quarter of 2019, from $319.1 million over the same period last year. The decline was attributed to lower operating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-drops-89-in-1h-2020\/","url_meta":{"origin":104235,"position":2},"title":"CapitaLand profit drops 89% in 1H 2020","date":"August 7, 2020","format":false,"excerpt":"\r With COVID-19 pandemic adversely affecting its financial performance, CapitaLand Limited\u2019s profit after tax and minority interest (PATMI) plunged 89%, to $96.6 million in the first half of 2020 from $875.4 million over the same period last year. Operating PATMI also declined 27.7% year-on-year to $261.2 million.\u00a0 In an SGX\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","url_meta":{"origin":104235,"position":3},"title":"CapitaLand Q3 net profit up 28% to $247.5 million","date":"November 10, 2016","format":false,"excerpt":"\r Earnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand) Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86932,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-down-18-8-on-absence-of-one-off-gain\/","url_meta":{"origin":104235,"position":4},"title":"CapitaLand net profit down 18.8% on absence of one-off gain","date":"May 2, 2018","format":false,"excerpt":"\r Net profit fell due to the absence of a $160.9 million gain from the sale of The Nassim a year ago. CapitaLand\u2019s net profit for the first quarter of 2018 fell 18.8 percent to $319.1 million, primarily due to the absence of a $160.9 million gain from the sale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":104235,"position":5},"title":"CapitaLand\u2019s net profit sinks 36.6% in Q2","date":"August 4, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Cairnhill Nine in Singapore. Source: CapitaLand Property giant CapitaLand has reported a net profit drop of 36.6 percent to S$294 million in Q2 2016, due to lower fair value gains from revaluation of properties, partially mitigated by improved operating performance. However, group revenue rose 9.7 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104235"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=104235"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104235\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}