CapitaMalls Asia’s Q2 net profit up 5.9%

CapitaMalls Asia reported a profit after tax and minority interest (PATMI) of S$245.6 million in the second quarter of 2013.

This marked a 5.9 per cent growth over the previous year.

According to CapitaMalls Asia, its improved profitability was due to contributions from new malls, asset enhancement initiatives and acquisitions of stakes in four Japan malls in 2012, as well as profit recognition for units sold in Bedok Residences.

CapitaMalls Asia declared an interim dividend of 1.75 Singapore cents per share, 7.7 per cent higher than last year’s interim dividend of 1.625 Singapore cents.

Its CEO, Lim Beng Chee, said the company will continue to pursue selective acquisitions in Singapore, Malaysia and China as well as other opportunities for good returns.

Source : Channel NewsAsia – 23 July 2013

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