City Developments posts 16.3% decline in 1Q earnings to S$80m

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SINGAPORE (May 11): City Developments Limited (CDL) announced that its 1Q18 earnings have dropped by 16.3% to S$80.0 million, compared to S$95.6 million in 1Q17.

Revenue was 35% higher at S$1.06 billion, compared to S$783.7 million a year ago, propelled by the completion of The Criterion Executive Condominium (EC).

The Group also benefited from the maiden contribution of New Futura as well as continued contributions from Coco Palms and Suzhou Hong Leong City Center but there was an absence of contribution from D'Nest and The Venue Residences which obtained TOP last year... (Click here to read the full story)