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

PC Lee
PC Lee8/7/2019 07:36 AM GMT+08  • 2 min read
CapitaLand reports 4.2% lower 2Q earnings of $580 mil on lower contributions from Singapore, China projects
SINGAPORE (Aug 7): CapitaLand reported earnings of $579.8 million, or 13.9 cents per share, for 2Q19, 4.2% lower compared to earnings of $605.5 million in 2Q18
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SINGAPORE (Aug 7): CapitaLand reported earnings of $579.8 million, or 13.9 cents per share, for 2Q19, 4.2% lower compared to earnings of $605.5 million in 2Q18

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

Revenue for 2Q19 decreased by 19.3% to $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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