CapitaMalls Asia Q2 net profit up 40.7% on-year

Shopping mall developer CapitaMalls Asia has posted S$232 million in net profit for the second quarter of the year, up 40.7 per cent from the same period last year.

CapitaMalls Asia attributed the rise in net profit to portfolio gains from its injection of two of its China assets into a private fund, as well as contributions from newly-acquired properties in Japan and China.

Group revenue for the three months ended June 30 climbed 18.7 per cent on-year to S$74.6 million.

Meanwhile, net profit for the first half of its fiscal year climbed 39.6 per cent to S$298.8 million, while revenue climbed 28.7 per cent in the same period to S$145.5 million.

The company had announced an interim dividend of 1.625 Singapore cents per share, 8.3 per cent higher than last year’s interim dividend of 1.5 Singapore cents.

Mr Liew Mun Leong, chairman of CapitaMalls Asia said in a statement that the board expects total dividend payout for the full-year to be at least 3.0 Singapore cents per share.

“To further grow our shopping mall business, we will continue to pursue selective acquisitions in our key markets of Singapore, China and Malaysia, as well as any other good opportunities that give us income and potential for growth,” chief executive Lim Beng Chee said.

CapitaMalls Asia holds a portfolio of 98 shopping malls geographically diversified across 51 cities in five Asian countries, including Singapore, China, Malaysia, Japan and India.

Its portfolio has a combined property value of S$30.4 billion.

Source : Channel NewsAsia – 26 Jul 2012





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