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Analysts see up to 25% upside for CDL following record earnings in 1HFY2022

Jovi Ho
Jovi Ho8/12/2022 01:45 PM GMT+08  • 5 min read
Analysts see up to 25% upside for CDL following record earnings in 1HFY2022
Year to date, CDL (+21%) has outperformed both developers (+9%) and the STI (+5%).
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Analysts see further upside for City Developments Limited (CDL) following its record-high earnings in 1HFY2022.

On Aug 11, CDL posted record earnings with net profit after tax and non-controlling interest (PATMI) of $1.13 billion for the 1HFY2022 ended June.

The period’s earnings is a reversal from the $32.1 million loss in 1HFY2021. It is also the highest PATMI achieved since CDL’s inception in 1963.

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