Singapore-listed CapitaLand’s profit after tax and minority interests (PATMI) soared by 187 percent to $409.4 million in Q4 2014 compared to the same period a year ago.
Its PATMI for the whole financial year rose by 38.2 percent to $1.16 billion on an annual basis thanks to lower portfolio losses, improved operating PATMI and higher revaluation gains from investment properties.
The group’s PATMI for FY 2014 also climbed by 40.4 percent to $705.3 million versus the same period in 2013 due to lower funding costs, development projects in Vietnam, profit from the sale of Westgate Tower and improved operating performance from its shopping mall business.
As for CapitaLand’s revenue, it increased 11.8 percent year-on-year to $3.92 billion in FY 2014, while the group’s earnings before interest and taxes (EBIT) rose by 7.9 percent to $2.44 billion.
Singapore and China contributed 76.7 percent of the group’s revenue, down from 77.4 percent in FY 2013. For EBIT, both markets accounted for 83.5 percent of the total figure.
“The group has achieved a credible set of results and is well-positioned for its next stage of growth. On account of its strong operating performance, the Board is pleased to propose an increased dividend of nine cents per share,” said Ng Kee Choe, Chairman of CapitaLand Group.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
