Home Capital Investing ideas

CapitaLand 1H net profit falls 5.3% excluding ASB consolidation; deleveraging and 2H recovery on track

Goola Warden
Goola Warden8/12/2019 09:00 AM GMT+08  • 5 min read
CapitaLand 1H net profit falls 5.3% excluding ASB consolidation; deleveraging and 2H recovery on track
SINGAPORE (Aug 12): This year, CapitaLand held its 2QFY2019 and 1HFY2019 results briefing in the atrium of Funan (before the shops opened) instead of the auditorium at Capital Tower. Top management had ditched their suits and ties for a more informal look
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Aug 12): This year, CapitaLand held its 2QFY2019 and 1HFY2019 results briefing in the atrium of Funan (before the shops opened) instead of the auditorium at Capital Tower. Top management had ditched their suits and ties for a more informal look.

Few analysts expressed surprise at the lower reported earnings and revenue as the company had cautioned that Ascendas-Singbridge would only be consolidated in July. All that would show up in 1HFY2019 were likely to be the cost of acquiring ASB.

True enough, for 1HFY2019, CapitaLand’s profit after tax and minority interest (Patmi) dropped 5.3% y-o-y to $875.4 million, and Patmi for 2QFY2019 fell 4.2% y-o-y to $579.8 million. An announcement stated that this was mainly attributed to the one-off transaction cost of $36 million incurred for ASB in 2QFY2019.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now