- GuocoLand (SGX:F17) reported 2H23 net profit of S$187.4m, with full-year net profit declining 47% y-o-y to S$207.1m. The decline was largely driven by higher cost of sales, higher other expenses, higher finance costs, and lower fair value gains of S$156.3m in FY23 vs S$248.8m in FY22.
- - Read this at SGinvestors.io -
- GuocoLand announced a dividend of 6 cents per share (~32% payout ratio), similar to the previous two years. See GuocoLand's dividend dates.
Resilient performance for both property development & property investment
- - Read this at SGinvestors.io -
- Revenue from the property investment segment also increased 35% y-o-y to S$169.6m due to higher rental income from Guoco Tower and Shanghai’s Guoco Changfeng City South Tower as well as the initial contribution from Guoco Midtown.
Strong sales momentum for GuocoLand.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Tabitha FOO DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-09-07
Previous report by DBS:
2022-09-02 GuocoLand - Exciting Times Ahead On Both Property Development & Investment Fronts.
Price targets by other brokers at GuocoLand Target Prices.
Listing of research reports at GuocoLand Analyst Reports.
Relevant links:
GuocoLand Share Price History,
GuocoLand Announcements,
GuocoLand Dividends & Corporate Actions,
GuocoLand News Articles
