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Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion

Goola Warden
Goola Warden5/31/2022 05:34 PM GMT+08  • 2 min read
Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
VivoCity, MCT's flagship property, pre-Omicron
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Mapletree Investments announced a 6.2% y-o-y rise in net profit to $1.96 billion for the 12 months to March 31, its FY2022, including $1.1 billion in property revaluation gains. Excluding revaluation gains, recurring earnings rose 27.9% y-o-y to $810.2 million.

Assets under management rose by $12.4 billion to $78.7 bbillion. Revenue rose 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and joint ventures grew by 9.5% to $2,040.1 million, primarily due to its four Singapore-listed REITs and contributions from new acquisitions in the US and Europe. ROE maintained at above 10%.

As at March 31, 2022, the Group’s cash reserves stood at $2,070.4 million and its debt to equity ratio reduced by 2.2 percentage points to 58.3%. Shareholder’s funds have also increased by 10.5% y-o-y to $19,519.9 million, largely due to higher Patmi in FY2022.

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