Mapletree Investment’s full-year net profit jumped 49% to S$932 million, boosted by an increase in recurring core net profit, investment and other gains as well as revaluation gains of its investment properties.
The real estate developer said its revenue rose 19.5% to S$686.3 million on higher fee income and improved rental revenue.
In the financial year ending 31 March, Mapletree’s real estate assets owned and managed or AUM grew almost 10% to S$21.8 billion while funds under management increased 40% to S$10.5 billion.
The property firm said its strong financial performance is a result of its business model that combines its real estate development expertise with investment and capital management capabilities.
Earlier this year, Mapletree listed its fourth REIT, Mapletree Greater China Commercial Trust (MGCCT) on the Singapore Exchange and raised over S$1.68 billion.
With its listing of MGCCT and divestment of Mapletree Anson, the group reduced its net gearing level to almost zero.
Shareholders’ funds increased 12.2 per cent to S$7.5 billion, while the group’s return on equity was 12.8 per cent, up from 9.7 per cent the year before.
Source : CNA – 14 May 2013