CITY DEV NET PROFIT SURGES
@SPOT_ON:
City Developments reported a 32% y-o-y rise in Patmi to $87.8 million for 1HFY2024. The increase was supported by divestment gains as part of the Group’s capital recycling efforts. The Group achieved a lower revenue of $1.6 billion for 1H2024 versus (1HFY2023's $2.7 billion as the latter included a $1.0 billion contribution from Piermont Grand, which was recognised in its entirety when the EC project obtained its Temporary Occupation Permit (TOP) in January 2023 $CityDev(C09.SI)$ $ARM Holdings Ltd(ARM)$ $DBS GROUP HOLDINGS LTD(D05.SI)$ $IFAST(AIY.SI)$