CapitaLand posted FY15 PATMI of $1.07 billion. This is 8.2% lower than the FY14 PATMI of $1.16 billion, which was boosted by a one-off gain of $123.5 million from the sale of Westgate Tower.
CapitaLand’s operating PATMI rose 16.8% to $823.6 million, primarily due to higher recurring income from the shopping mall and serviced residence businesses as well as gains on the change in use of development properties for sale to investment properties. Operating PATMI accounted for 77% of total PATMI in FY15.
Group revenue increased 21.3% to $4.76 billion in FY15, driven mainly by development projects in China as well as higher rental revenue from the serviced residence business.
The higher revenue from China was attributable to the higher number of residential units handed over and consolidation of CapitaLand Township’s revenue with effect from March 2015. The group also recorded fair value gains arising from the change in use of The Paragon (Tower 5 and 6) in Shanghai and Ascott Heng Shan Shanghai to investment properties.
The group posts 5% decrease in FY15 EBIT to $2.32 billion, due to lower fair value gains from revaluation of investment properties and lower residential margins arising from different product mix.
In 2015, the group achieved record sales of 9,402 residential units in China with sales value of approximately $3.4 billion.
In Vietnam, it sold 1,321 residential units with sales value of $226.5 million.
“CapitaLand remains focused on growth in our core markets of Singapore and China. For longer term diversification and balance, we will continue to expand in growth markets such as Vietnam and Indonesia,” says Lim Ming Yan, President and Group CEO of CapitaLand.
Shares in CapitaLand ended at $2.89 on Tuesday.
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CapitaLand’s operating PATMI rose 16.8% to $823.6 million, primarily due to higher recurring income from the shopping mall and serviced residence businesses as well as gains on the change in use of development properties for sale to investment properties. Operating PATMI accounted for 77% of total PATMI in FY15.
Group revenue increased 21.3% to $4.76 billion in FY15, driven mainly by development projects in China as well as higher rental revenue from the serviced residence business.
The higher revenue from China was attributable to the higher number of residential units handed over and consolidation of CapitaLand Township’s revenue with effect from March 2015. The group also recorded fair value gains arising from the change in use of The Paragon (Tower 5 and 6) in Shanghai and Ascott Heng Shan Shanghai to investment properties.
The group posts 5% decrease in FY15 EBIT to $2.32 billion, due to lower fair value gains from revaluation of investment properties and lower residential margins arising from different product mix.
In 2015, the group achieved record sales of 9,402 residential units in China with sales value of approximately $3.4 billion.
In Vietnam, it sold 1,321 residential units with sales value of $226.5 million.
“CapitaLand remains focused on growth in our core markets of Singapore and China. For longer term diversification and balance, we will continue to expand in growth markets such as Vietnam and Indonesia,” says Lim Ming Yan, President and Group CEO of CapitaLand.
Shares in CapitaLand ended at $2.89 on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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