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Singapore Land 1HFY2022 earnings up 290% y-o-y on revaluation gains

The Edge Singapore
The Edge Singapore8/5/2022 06:23 PM GMT+08  • 2 min read
Singapore Land 1HFY2022 earnings up 290% y-o-y on revaluation gains
Clifford Centre, one of the properties under Singapore Land Group / Photo: Albert Chua
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Singapore Land Group has reported a revenue of $264 million for 1HFY2022, up 15% over the year-earlier period, thanks to a recovery in the tourism industry which helped lift its turnover for its hotels business.

However, as it is booking a $238.9 million revaluation gain on its real estate, the company's earnings for the same period is $359.8 million, up 290% y-o-y.

In its earnings commentary, Singapore Land Group notes that the pandemic situation appears to have stabilised and that the outlook for some sectors have strengthened.

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