CapitaLand Q2 net profit up 4.4% to S$605 million

SINGAPORE: Singapore developer CapitaLand’s second-quarter net profit rose 4.4 per cent from a year ago to S$605 million, boosted by contributions from newly acquired investment properties in Singapore, China and Germany as well as revaluation gains.

These were partially offset by lower portfolio gains and contribution from the group’s residential business, CapitaLand said in a statement on Wednesday (Aug 8) before the market opened.

Revenue for the quarter increased 35.3 per cent to S$1.34 billion on the back of rental revenue from its new properties…

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