|Day's range||1.13 - 1.13|
|52-week range||1.00 - 1.14|
|PE ratio (TTM)||N/A|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
It offset the growth seen in the group's other markets. The outlook is lukewarm for City Developments Limited's hospitality segment, as its Singapore market continued to badger declining revenue per available ...
Whilst its net earnings were badgered by the absence of contributions from two joint venture projects, City Developments Limited still reported healthy gains in its property portfolio across its markets. According to OCBC Investment Research, the group sold 293 units worth $477.1m in Singapore over 1Q17, up significantly versus 145 units at $145m in 1Q16. Meanwhile, CDL has sold 77% of the 1,374 residential units in Phase 1 of HLCC while 43% of the 430 units in Phase 2 have also been sold.
City Developments Limited posted a significant drop in net profit in Q1, ending the quarter with a 19.9% slump to $99.2m. According to OCBC Investment Research, this is largely due to a range of factors, including the absence of contributions from two JV projects Bartley Ridge and Echelon, which achieved Temporary Occupancy Permit (TOP) in 2016. Exchange losses, softer contributions from M&C and lower investment income from the realisation of an investment in Real Estate Capital Asia Partners also badgered overall bottom line for the group.