SINGAPORE (Nov 10): City Developments Limited (CDL) reported a 60.1% rise in 3Q16 earnings to $170.3 million from $106.4 million a year ago, bringing its earnings per share up 59.8% to 18.7 cents for the quarter from 11.7 cents in 3Q15.

In a Thursday filing to the Singapore Exchange (SGX), the property developer says this was mainly due to a strong sales performance in its property development segment and gains the divestment of its entire 52.52% interest in City e-Solutions (CES), a subsidiary listed on Hong Kong Stock Exchange (HKSE).  

Revenue increased 14% to $922.8 million from $809.3 million in 3Q15, driven by the property development segment, which continued to be the highest contributor to revenue at $371.8 million.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook