- CapitaLand Investment (SGX:9CI)’s 1H24 revenue rose 1% y-o-y to S$1,365m, as the 8% increase in its fee-income related business (FRB) was partially offset by the 2% decline in revenue for its real estate investment businesses (REIB).
- - Read this at SGinvestors.io -
- On the other hand, the decline in real estate investment business revenue was underpinned by the absence of income from divested properties and weaker corporate leasing demand in the US.
1H24 operating PATMI dipped 14% y-o-y to S$296m and fell short of expectations
- Group EBITDA rose 8% y-o-y to S$819m as a result of higher portfolio gains from asset recycling, but total PATMI slipped 6% to S$331m. Excluding portfolio gains, CapitaLand Investment’s operating PATMI fell by a larger magnitude of 14% y-o-y to S$296m, and constituted 44% of our initial FY24 forecast.
- - Read this at SGinvestors.io -
Aiming to grow more aggressively in Asia ex-China markets
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-08-15
Previous report by OCBC:
2024-04-29 CapitaLand Investment - Expect Capital Recycling Activities To Step Up.
Price targets by 3 other brokers at CapitaLand Investment Target Prices.
Listing of research reports at CapitaLand Investment Analyst Reports.
Relevant links:
CapitaLand Investment Share Price History,
CapitaLand Investment Announcements,
CapitaLand Investment Dividends & Corporate Actions,
CapitaLand Investment News Articles
