CITY DEV NET PROFIT SURGES

SPOT_ON
08-14

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

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