Shares & Derivatives
CapitaLand Investment Limited Reports a Lower Core Net Profit But Maintains Dividend of S$0.12: 5 Things You Need to Know
By The Smart Investor  •  February 29, 2024
Next on the list of blue-chip stocks to report its earnings is CapitaLand Investment Limited (SGX: 9CI), or CLI. The property giant saw through a tough year with a mix of bright and weak spots in its financial report. Headwinds caused by higher interest rates resulted in lower property valuations but CLI also saw higher overall recurring income. Here are five highlights from the group’s latest earnings that you need to know.
  1. Weaker core earnings offset by higher recurring revenue
For 2023, CLI’s revenue dipped by 3.2% year on year to S$2.8 billion. With the cost of sales rising by 2.3% year on year, gross profit ended up lower by 2.3% year on year at S$1.3 billion. Operating profit tumbled by 46.5% year on year to S$689 million as other operating expenses jumped nearly 66% year on year. Net profit was impacted by a S$600 million revaluation loss and plunged by 79% year on year to S$181 million....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.

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