CapitaLand said its second quarter net profit rose 17.4 per cent to S$399 million.
That’s up from a re-stated S$339.7 million profit in the same period a year ago.
CapitaLand, which is southeast Asia’s biggest developer, attributed the gain to higher development income in Singapore, fair value gains, and the sale of a residential site in China.
Revenue climbed 25 per cent to S$740.4 million.
CapitaLand said Singapore’s strengthening currency was an “ongoing concern,” with more than 60 per cent of revenue coming from outside the country.
However, it reiterated its interest in new investments, and said it would continue pursuing developments in Singapore and China.
Source : Channel NewsAsia – 4 Aug 2011