SINGAPORE (May 14): City Developments Limited (CDL) on May 11 reported 1Q18 earnings ended March dropped 16.3% to $80.0 million from $95.6 million in 1Q17.

Revenue was 35% higher at $1.06 billion, compared to $783.7 million a year ago, propelled by the completion of The Criterion Executive Condominium (EC). This brought gross profit for 1Q18 came in at $363.1 million, 1.1% lower than $367.3 million last year.

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