CapitaLand Profit Up 11.7% in 2016

CapitaLand's full year net profit rose 11.7% to SGD1.19billion for the financial year ended December 2016, the company said it was driven by higher handover of residential units in China and higher recurring income from CapitaGreen in Singapore and its shopping mall business in China.

For 2016, CapitaLand sold a record total of 12,789 homes. In Singapore, the company sold 571 residential units, up from 244 units in 2015, with a sales value of SGD1.42billion compared with SGD559million.

The company also achieved a second consecutive year of record residential sales in China, with 10,738 units sold at a value of RMB18.1 billion(SGD3.7 billion) from 9,402 units of RMB15.4 billion in 2015.

It sold 1,480 residential units in Vietnam with a sales value of SGD282.1 million during the 2016 compared with SGD226.5 million from 1,321 units in 2015.

- APMR News