CapitaLand reports 4.2% lower 2Q earnings of S$580m on lower contributions from Singapore, China projects

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SINGAPORE (Aug 7): CapitaLand reported earnings of S$579.8 million, or 13.9 cents per share, for 2Q19, 4.2% lower compared to earnings of S$605.5 million in 2Q18.

The quarterly bottomline brings 1H19 earnings to S$875.4 million, down 5.3% from S$924.6 million a year ago.

Revenue for 2Q19 decreased by 19.3% to S$1.08 billion, mainly attributed to lower contributions from its residential projects in Singapore and China, partially mitigated by higher rental revenue mainly from its portfolio of properties the US and Europe acquired in 2018.

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